Current public sentiment towards the housing market?

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howstrange said:
On the other hand:

http://www.bloomberg.com/apps/news?pid=20601068&sid=aFW_qQMUyuk0&refer=economy

"The key ECB interest rates remain at low levels, money and credit growth remain strong and liquidity in the euro area is ample"
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Bloomberg: Adding to pressure on the ECB, money-supply growth, which the bank uses as a gauge for future inflation, unexpectedly accelerated in August. Credit to businesses and households jumped 11.9 percent, the most since the ECB took charge of monetary policy eight years ago.
Consumer prices are "likely to increase again towards the end of the year and in early 2007" after lower energy costs pushed inflation 1.8 percent in September, the ECB said.

Looks like December's rate rise is still in the bag.


*************************************

Jean-Claude We Love You
The Irish Bears School Choir

Jean-Claude, we love you
Jean-Claude we do
Though you may be far away
We think of you

There's no one quite like Jean-Claude
I'm sure you will agree
There's no road that he won't go
For "price stability"

Jean-Claude, we love you
Jean-Claude we do
Though you may be far away
We think of you

And one day, after the crash
we'll look back and say
It's all thanks to Jean-Claude
Homes are affordable today

There's no one quite like Jean-Claude
And his friends at the ECB
It's not his fault that Ireland's debt
is nearly twice its GDP

There is no stopping Jean-Claude
EU growth is no hinderance
The vested interests sh1t themselves
when he says "Vigilance"

Jean-Claude, we love you
Jean-Claude we do
Though you may be far away
We think of you

Politicians will blame Jean-Claude
For ending the party
But the Celtic Tiger was really killed
by greed and profligacy

Jean-Claude, we love you
Jean-Claude we do
Jean-Claude, we love you....
 
room305 said:
€1k above and for that we had to throw in (quite literally) everything. I guess we're lucky they really liked the house. Most of the other places on the market in the area aren't shifting - with the possible exception of the 3-bed ex-council houses. Although mostly this is down to the "well the house down the street sold for x, so ours must be worth x + 10% now" phenomenon.

I don't see any major slide in prices until next year but in a weakening market there is little advantage to holding out for another few k.
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Congrats......Welcome (soon) to the joys of living with cheap rent.
 
phoenix_n said:
Congrats......Welcome (soon) to the joys of living with cheap rent.
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Sorry to burst this particular bubble but looking at the rental market in Dublin at the moment, things are a little grim and I'm glad that we're well established in our rental.

There are less than half the number of properties available for rent in Dublin than there were 6 months ago and prices seem to be significantly higher. Certainly around D4/D6, rents are rising and there are very few properties at the kind of prices of last year. That said, compared to buying, it's still much cheaper but just not quite as good as it was a year ago.
 
Foxtrot said:
Ah, there's nothing like a spot of casual racism.
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yea yea yea whatever.sitcks and stones.........

dontaskme said:
Of course, such high demand for an Post and Western Union gives them pricing power so that they can increase prices, thereby fuelling inflation. ;)
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Is western Union safe though ?I thought i heard someone on the joe duffy show a few weeks ago saying how they had wired money to cyprus and it had been collected by someone else in another country,a few other people rang in saying how the same thing had happened to them.
Western union wouldn't accept any responsibility.

Debtwish said:
Jean-Claude We Love You
The Irish Bears School Choir

Jean-Claude, we love you
Jean-Claude we do
Though you may be far away
We think of you
Click to expand...

Brilliant,Debtwish take a bow !:D

You should email that off to the ecb and see if you get a reply !.
 
gearoidmm said:
Sorry to burst this particular bubble but looking at the rental market in Dublin at the moment, things are a little grim and I'm glad that we're well established in our rental.

There are less than half the number of properties available for rent in Dublin than there were 6 months ago and prices seem to be significantly higher. Certainly around D4/D6, rents are rising and there are very few properties at the kind of prices of last year. That said, compared to buying, it's still much cheaper but just not quite as good as it was a year ago.
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This is happening alright in my area,but that's because the landlords are trying to flog their properties.It just a temporary situation,i do believe things will return to normal when they see there is no fast exit.
 
thewatcher said:
This is happening alright in my area,but that's because the landlords are trying to flog their properties.It just a temporary situation,i do believe things will return to normal when they see there is no fast exit.
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I've noticed the same thing recently. Looks like landlords are putting their property on the market rather than renting it out again when a lease ends. I haven't noticed rents increasing however.
 
Jean-Claude We Love You
The Irish Bears School Choir

Jean-Claude, we love you
Jean-Claude we do
Though you may be far away
We think of you
Click to expand...

Truly fantastic DebtWish for the eurovision I say :D
 
It looks like some Paddies who are taking on the world are not finding it is not a one-way street

"It's strange how a developer who landed in Chicago just a couple of months ago trailing clouds of public relations glory now has an acute case of shyness. Garrett Kelleher, the Irish developer who in July took financial control of the proposed 124-story building.."

[broken link removed]

Could this happen down in swanky D4 for all those proposed apartments I wonder?
 
2nz said:
Any thoughts on how the weakening trade exports will affect the property market?
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The Irish property market is doomed in my opinion. Dozens of companies are moving to eastern europe because Ireland is just not competitive anymore, expect more to leave. Over 30,000 manufacturing jobs have been lost in the last four years. We have over 300,000 eastern european immigrants living in this country sending home Billions of euro each year, which means most are not buying Irish property, I don't know the figures but I'm sure over 90-95% are in rented accommodation.

There are over 230,000 empty properties in Ireland at the moment. The construction sector is heading for a crash, tens of thousands of eastern european construction workers will be heading to London to work on the Olympics construction, freeing up more properties and the interest rate hikes are hitting hard. Car sales were down 12% last month, on top of that we have a crap football team...
 
"A recent simulation by the ESRI suggested that a 40 per cent drop in house prices could reduce GNP growth to one per cent and increase unemployment to over 10 per cent of the labour force (Medium Term Review, 2005-20 2, ESRI, December 2005)."

so its back to the 1980s if prices continue to drop.....
[broken link removed]



is this the shape of things to come? http://irishhousepricesfalling.blogspot.com/

I think car sales going down 12% is a sign that debt is catching up on us
 
blindjustice said:
I think car sales going down 12% is a sign that debt is catching up on us
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A lot of people are overlooking car sales figures, after all a car purchase is usually the 2nd most expensive purchase a person can make.

Ireland - Car sales decline 12% in September.
http://www.unison.ie/stories.php3?ca=9&si=1699765&issue_id=14723


Germany - Car sales increase 4.5% in September.


Why is there such a difference in new car registrations between Ireland and Germany? Renters outnumber homeowners 5 to 1 in Germany, renters don't feel the interest rate hikes so naturally they have more spending power.
http://www.dw-world.de/dw/article/0,2144,2155971,00.html
 
Not that I don't think the economy here is headed for trouble (for which most people are ill prepared) but perhaps the decline in new car sales is due to people holding out on purchasing until next year's SSIA money give-away?
 
beattie said:
It looks like some Paddies who are taking on the world are not finding it is not a one-way street

"It's strange how a developer who landed in Chicago just a couple of months ago trailing clouds of public relations glory now has an acute case of shyness. Garrett Kelleher, the Irish developer who in July took financial control of the proposed 124-story building.."

[broken link removed]

Could this happen down in swanky D4 for all those proposed apartments I wonder?
Click to expand...
 
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