Wednesday, March 28, 2007

Irish property market slowing down!

Planning figure shows property slowdown

Evidence that Irish property market is slowing fast. It matter to us for 2 reasons. First, part of the global phenomenon of credit bloated house prices leading to inevitable bust. Second, the amount of Irish money that has flowed into UK residential property in the last few years. More than anyone else, the Irish have convinced themselves that rising prices are an intrinsic part of houses. If these guys have to pull out money from the UK to shore up failing investment at home, things could get interesting.

Posted by royston @ 02:04 PM (583 views)
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3 thoughts on “Irish property market slowing down!

  • sold 2 rent 1 says:

    Here is the recent history of the Irish housing market

    http://www.daft.ie/news.daft

    18 May 2006 – House Prices Rise 5.5% in 4 Months
    02 August 2006 – Daft.ie Report Reveals a Sharp Decrease in House Price Growth
    09 November 2006 – Growth in House Prices Grinds to a Halt
    15 March 2007 – Double Digit Growth in Rents Nationwide

    The last post looks like good news for investors but when you read the detail – “The highest yields in the country are on properties in South Dublin and Limerick city with average yields now at 3.9%.”

    Glad my wife completed her house sale in Dublin in January

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  • I have been saying this for a while now! According to ESRI (official stats) prices are down 10% overall since October 2006.

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