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BillyShears

Ir Hike In Ireland Effect On Uk Prices?

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People have, if I remember correctly, said in this forum that some Irish investors are using their equity in their Irish homes to buy property in the UK.

If the European interest rates go up, could that then affect the UK market slightly? If Irish property speculators get hit by a rate rise, some of them may try to reduce their outgoings by getting rid of some property that they pay a mortgage on. If they MEWed their Irish property to buy all or part of a UK property, then they could get hit by the European rate rise, and decide to sell the UK one so that they can pay off their Irish mortgage.

Too small an effect to even notice?

Billy Shears

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People have, if I remember correctly, said in this forum that some Irish investors are using their equity in their Irish homes to buy property in the UK.

If the European interest rates go up, could that then affect the UK market slightly? If Irish property speculators get hit by a rate rise, some of them may try to reduce their outgoings by getting rid of some property that they pay a mortgage on. If they MEWed their Irish property to buy all or part of a UK property, then they could get hit by the European rate rise, and decide to sell the UK one so that they can pay off their Irish mortgage.

Too small an effect to even notice?

Billy Shears

Probably too small to notice.

As for figures, does anyone really have an idea how many properties the Irish have purchased.

Probably more significant is that a falling Irish housing market would impact on Northern Ireland which would have an effect on our HPI.

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As for figures, does anyone really have an idea how many properties the Irish have purchased.

We do know it is to the tune of 100 billion euro (as loaned by Irish banks) but at present rates that's probably a dozen garages in Highgate or Islington. I wonder how many additional loans are from foreign banks?

I am still flabbergasted by that figure.

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i would tink again about it. tings can get awlfy messy.

its ok having one or two btl but tree is too mutch.

unless you sourced a lepprechauns saver flexible mushroom mortgage.

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Northern Ireland might take a hit. There are a lot of cross boarder ties and I bet there has been money moving north as I believe NI was relatively cheap, until recently.

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House prices in Ireland make ours look cheap by comparison, so I'm not surprised if they're investing over here. I was in Dublin last weekend, and 2-bedroom terrace bungalows were being advertised at 500k Euros, and even my taxi driver was telling me his house is now worth 700k.

Thing is, while Ireland is certainly doing extremely well for itself at the moment, you get the impression that half of Dublin could become a ghetto again overnight if the economy starts to unravel.

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The Irish are the largest foreign investors in the UK property market. Heavy representation in the new build sector. Anyone who saw the documentary last night on RTE, by their economics editor George Lee might think that a lot of this property will find its way back onto the market pretty soon. :ph34r:

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The Irish are the largest foreign investors in the UK property market. Heavy representation in the new build sector. Anyone who saw the documentary last night on RTE, by their economics editor George Lee might think that a lot of this property will find its way back onto the market pretty soon. :ph34r:

The RTE programme was well presented and balanced, then again as a Celtic Tiger heretic I would say that. :)

Mrs Flash got me to tune in after listening Gerry Ryan on RTE Radio giving George Lee a really hard time, accusing him of being a doomonger and trying to spoil the party.

http://www.rte.ie/thetimeofourlives/boom.html

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The Irish goverment receive more tax from house's than any other sector average stamp duty in Dublin 60k plus building tax,the goverment manage to fund social services through housing,if we see a decline in house building it will have a ripple effect on the Irish ecomany and thus Irish investments in the U.K

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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