marathonic
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According to the below house price index, prices in Ireland have gone up 15% in the year ended September 2006 compared to 11.9% in the year ended September 2005.
http://www.finfacts.com/irelandbusinessnews/publish/article_10008138.shtml
As a current house-owner, one must ask "is this rate of growth going to continue?". I am in the process of building a house but am now fearful of where houses are going.
Obviously, some of the 15% growth may attributed to SSIA's being used as deposits but do they really have THAT much of an affect - or could it be a combination of people with SSIA's buying and people in the wider market buying in the knowledge that the SSIA money will prop up prices?
Whilst it's true that economists have been predicting a slowdown for quite a few years now and, as of yet, it has failed to materialise, how can these continuous rises be possible. Where is the affordability coming from - in particular now that interest rates have risen?
It would be interesting to have the foresight to see what this 15% will change to in next years survey. Whilst I'm sure alot of people will say that it will reduce to single figures, I am equally as certain that just as many people were saying the same thing last year...
http://www.finfacts.com/irelandbusinessnews/publish/article_10008138.shtml
As a current house-owner, one must ask "is this rate of growth going to continue?". I am in the process of building a house but am now fearful of where houses are going.
Obviously, some of the 15% growth may attributed to SSIA's being used as deposits but do they really have THAT much of an affect - or could it be a combination of people with SSIA's buying and people in the wider market buying in the knowledge that the SSIA money will prop up prices?
Whilst it's true that economists have been predicting a slowdown for quite a few years now and, as of yet, it has failed to materialise, how can these continuous rises be possible. Where is the affordability coming from - in particular now that interest rates have risen?
It would be interesting to have the foresight to see what this 15% will change to in next years survey. Whilst I'm sure alot of people will say that it will reduce to single figures, I am equally as certain that just as many people were saying the same thing last year...