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Average House In Dublin Smashes Through 532k Barrier

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http://www.finfacts.com/irelandbusinessnew..._10006772.shtml

Irish house prices forecast to slow from end of 2006 as affordability deteriorates in wake of higher interest rates
By Finfacts Team
Jul 31, 2006, 09:21
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* 2006 on track to set new records for house prices, completions and mortgage lending
* House price growth revised upwards to 12% for 2006, 3% envisaged for 2007
* Price of average house in Dublin at
€532,000
and nationally €395,000

The mother of all HPCs brewing there then. Five hundred and thirty two thousand euros for the average house and only rising by 12% this year to close to 600,000.00--on average! :o

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I am a HP bear.However,the Irish market does cause me some worry.What's to say the UK market likeIreland couldn't rise from the present seven times to ten times average earnings.

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The Irish market is just plain crazy! It is an even bigger bubble then the UK.

Around 12 years ago you could buy a mansion on Eire for around 200k - 200k punts (I£)

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The Irish market is just plain crazy! It is an even bigger bubble then the UK.

Around 12 years ago you could buy a mansion on Eire for around 200k - 200k punts (I£)

I think rather than how high it goes up it is how quickly it happens. The quicker the rises happen the less people are actually sucked into paying more. Say 30,000 people a year buy their first house or btl (completely made up) in Ireland then if the rises happen over say 5 years then only 150,000 people get effected. Everyone else rides the wave as they already own or just don't enter the market at all. The longer it goes on though drags more and more people into the mix e.g. 10 years 300,000. Ireland and UK have been rising pretty much over the same period however Ireland has just been rising faster. It stops when people realise the debt they have taken on is impossible to pay off. Surely there are a lot of people in Ireland relying on continued rises otherwise they are ******ed! I wouldn't be surprised if a large amount of the mortgage debt in Ireland never gets paid off.

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I think rather than how high it goes up it is how quickly it happens. The quicker the rises happen the less people are actually sucked into paying more. Say 30,000 people a year buy their first house or btl (completely made up) in Ireland then if the rises happen over say 5 years then only 150,000 people get effected. Everyone else rides the wave as they already own or just don't enter the market at all. The longer it goes on though drags more and more people into the mix e.g. 10 years 300,000. Ireland and UK have been rising pretty much over the same period however Ireland has just been rising faster. It stops when people realise the debt they have taken on is impossible to pay off. Surely there are a lot of people in Ireland relying on continued rises otherwise they are ******ed! I wouldn't be surprised if a large amount of the mortgage debt in Ireland never gets paid off.

Have considered shorting the Irish banks.

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Have considered shorting the Irish banks.

yeah? which ones, in what proportion, and when? As for prices, unfortunately I see a further spurt b/n now and end of year.

When SS Ireland goes down it will be so ugly that I will probably emigrate (again).

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yeah? which ones, in what proportion, and when? As for prices, unfortunately I see a further spurt b/n now and end of year.

When SS Ireland goes down it will be so ugly that I will probably emigrate (again).

ireland is looking like the next japan...... Tiger ecomony seriously overheating...

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yeah? which ones, in what proportion, and when? As for prices, unfortunately I see a further spurt b/n now and end of year.

When SS Ireland goes down it will be so ugly that I will probably emigrate (again).

Its phenomenal over there. 4 million people and house prices dearer than here. I used to think that a crashing market in UK would drag ROI down with it, starting to think it may be other way round. They are so stretched already, and ECB rates are rising there is nothing they can do about it. They like to think they are very European over there because they embraced the euro and recycle their rubbish, yet they love their debt more than the anglos/ americans. Watch for some anti european sentiment now the funds from europe are drying up.

The sad thing is with all that previous investment they could have built some fine sustaainable communities, close to shops and sevices. The houses could have been so energy efficient,yet they went for massive one off houses spread all over the countryside. The whole country has turned into one huge suburb that would make an american proud. The rising cost of energy is really going to bite over there.

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ireland is looking like the next japan...... Tiger ecomony seriously overheating...

You can not compare Ireland with Japan (You can't compare anywhere with Japan, except South Korea).

Japan has a manufacturing base, Japan has the best technologies in the world (which they own themselves), Japan still has the biggest and most successful companies in the world. Ireland has non of these!

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You can not compare Ireland with Japan (You can't compare anywhere with Japan, except South Korea).

Japan has a manufacturing base, Japan has the best technologies in the world (which they own themselves), Japan still has the biggest and most successful companies in the world. Ireland has non of these!

I disagree, Ireland has some fine handicrafts. Always a sure indicator that there's ****** all else wrt to local industry and natural resources...

EU money drying up > tax breaks for call centre/"hi tech" firms disappear > back to being totally reliant on slightly ironic form of cultural tourism...(and lets face it, a pretty mediocre stout)

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The EAs and VIs are telling the Irish sheeple that higher IR will do nothing to slow the soaring prices--this way they keep the buyers in a rabid frenzy eager to buy whatever is for sale--price no longer matters because it will be worth twice as much in 2 years time:

http://www.businessworld.ie/livenews.htm?a...rollingnews.htm

CBRE: "ECB hike will not hit property"

Monday, July 31 15:24:56
(BizWorld)
The Irish property market will continue to perform strongly regardless of whether the European Central Bank raised interest rates later this week, CB Richard Ellis claimed today.

Even 5% is unlikely to dent the buying frenzy in Ireland where price simply no longer matters as today's price will alway's be less than tomorrow's.

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Guest Bart of Darkness
The Irish property market will continue to perform strongly regardless of whether the European Central Bank raised interest rates later this week, CB Richard Ellis claimed today.

Well that's all right then.

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  • 301 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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