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Housing Market Bears The Brunt As Ireland’s Economy Wobbles

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Housing market bears the brunt as Ireland’s economy wobbles

http://www.thebusinessonline.com/Document....7A-50456AA5B8A4

"The Institute said the huge number of vacant houses is a serious risk. It had previously estimated that a quarter of the additional houses built in the last four years must be empty. But latest vacancy figures show the actual figure is 40%, increasing the risk of a rapid fall in construction and a sharp fall in house prices."

40% empty. Even worse than liverpool :blink:

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"The Institute said the huge number of vacant houses is a serious risk. It had previously estimated that a quarter of the additional houses built in the last four years must be empty. But latest vacancy figures show the actual figure is 40%, increasing the risk of a rapid fall in construction and a sharp fall in house prices."

40% empty. Even worse than liverpool :blink:

Talking of Liverpool, on GMTV the weathergirl was there yesterday because of the Champions League. Anyway, the camera panned around the dock area with all the shiny new 'luxury' flats and thousands more being erected. If Liverpool isn't one huge bubble in the making............... :lol:

Wonder what the occupancy rates are like and the rental yields?

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ironically a lot of the new build flats in liverpool were bought off-plan by irish speculators.

and now they cant rent any of them out. Prime new build apartments in the city centre are going for 600pounds/month.

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35% of city centre flats are empty

Don't be silly; the bulls keep telling us housing prices are high due to a lack of supply.

Edited by MarkG

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Don't be silly; the bulls keep telling us housing prices are high due to a lack of supply.

They are . . . London's a prime example !!

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Don't be silly; the bulls keep telling us housing prices are high due to a lack of supply.

They are . . . London's a prime example !!

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Take a trip to the Docklands or Stratford.

Ok so a couple of areas aren't pulling their weight but overall, London property is runnign away with the ball. Thing is . . . you all know it. No amount of spin is going to convince anyone that the South East is in trouble. 90% of what is on the market in London, is snapped up. . .

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Tenroom, did you know N Rock have just banned lending on B2L new build to include the SEast and London?

So wheres the undersupply?

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Tenroom, did you know N Rock have just banned lending on B2L new build to include the SEast and London?

So wheres the undersupply?

No I can't say that I knew that but it's of no great significance. E London have seen much new build development because they were 5hitholes before. The rest of London - even South - continues to fly off the shelves. Where there are real communities rather than tumbleweed-ridden housing estates populated by poncey, smug "professionals", there will always money to lend

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Ok so a couple of areas aren't pulling their weight but overall, London property is runnign away with the ball. Thing is . . . you all know it. No amount of spin is going to convince anyone that the South East is in trouble. 90% of what is on the market in London, is snapped up. . .

I didn't say that London isn't performing well, but it isn't quite the boom town you are portraying it as.

Grotty 300k apartments in OK areas seem to be snapped up pretty quick. Plenty of the family properties at the upper end go quickly too. Most stuff in the middle range is selling slowly as least in Fulham/Parson's Green. No price drops yet.

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