Jump to content
House Price Crash Forum

Irish Market Slowing "noticeably"


Recommended Posts

http://www.housefund.co.uk/2006/10/irish-f...rt-to-cool.html

Irish first time buyers start to cool off

Top bank executives, mortgage lenders and brokers have revealed that the Irish first-time buyer housing market has
slowed noticeably
as interest-rate hikes and rocketing utility bills have hit borrowers in the pocket.
IFG Mortgages quoted an un-named source, who said: "While mortgage volumes are still strong, there has been a trend of first-time buyers slowing down over the last month or so. People are being more cautious. The recent rates rises are having an impact. Properties on the market seem to be on for a bit longer. There's evidence of less viewings and people tend to be - for the first time in years -
putting in bids that are lower than the asking prices
."

It goes to show that all bad things eventually some to an end. The HPC appears to move moving slowly around the globe beginning with the US, touching the shores of Spain to Ireland and then onward toward us* :)

_________________________

*Wuh huh hu huh huh huh :o

Edited by Realistbear
Link to post
Share on other sites

Reality is certainly moving closer.

Being only 4.25m of us (generously including our ‘New Irish’ friends) word of mouth spreads fast and conventional wisdom can change swiftly. Dublin largest daily tabloid ran a very bearish headline a few weeks ago and theres been other bearish commentary in key media. Sentiment has changed very very quickly here. Independent thinking is thin on the ground and the herd moves in unison. I believe the slide has started and I’m actively looking for candidates to short (builders, material suppliers, banks)

Link to post
Share on other sites

The change in sentiment in Ireland has been so fast it is just staggering.

Being a perma-bitter pessimist, I keep a regular eye out for bad news. Left the country on business for 4 weeks, come back, and suddenly BOOM! When I left, blue skies for HPI. Suddenly, a few short weeks later, doom and gloom abound.

In fact, not just doom and gloom, but substantive changes too - price reductions, failing auctions, falling mortgage applications, withdrawn offers, weird new-build incentives (€3,000 worth of white goods if you sign the €750,000 contact within 2 weeks! Yay!), media waking up etc. etc.

Amazing.

(BTW, if we go first, I'll be very interested to see if it affects the UK market. The Irish are so heavily invested in the UK that it might well be a big deal).

Link to post
Share on other sites

The change in sentiment in Ireland has been so fast it is just staggering.

Being a perma-bitter pessimist, I keep a regular eye out for bad news. Left the country on business for 4 weeks, come back, and suddenly BOOM! When I left, blue skies for HPI. Suddenly, a few short weeks later, doom and gloom abound.

In fact, not just doom and gloom, but substantive changes too - price reductions, failing auctions, falling mortgage applications, withdrawn offers, weird new-build incentives (€3,000 worth of white goods if you sign the €750,000 contact within 2 weeks! Yay!), media waking up etc. etc.

Amazing.

(BTW, if we go first, I'll be very interested to see if it affects the UK market. The Irish are so heavily invested in the UK that it might well be a big deal).

Sounds like a steep icy slope. Next month for the UK with the measly 0.5% interest rate that is predicted?

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 439 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.