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Discussion in 'Current Affairs' started by Captain_Morgan, Aug 20, 2013.
The new boom is in its infancy already
3.3pc rise in property
As I keep on telling you its such a small sample size, so hard to say.
They were saying on newstalk saturday morning that the much vaunted rise in mortgage loans in the laat quarter works out at four extra mortgages compared to last year and the value was actually millions less!!
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I have split this from another thread as I think it could do with a dedicated thread for debate.
The increase is so high because there is not much movement in the market, so a few house going over the asking price effects the numbers more than it should.
Dublin prices rose by 8% in the year to July, but that mortgage transactions nationwide are at the level they were at in 1973 level when the population was one-third lower.
Currently saving to hopefully get on ladder next year so do hope for my sake it is a minor blip
I would hope it stays level to current rates for another 12-18month but only time will tell
It depends where you want to buy, both within Dublin and the rest of the country. These rises will not affect everywhere equally. Also, there could be an element of dead cat bounce although you can be sure NAMA are trying desperately to stabilise prices.
Also, the banks are in the process of beginning to repossess houses, both btl's and family homes. Also, you should not underestimate what might happen when Ireland exits the Troika programme later this year. It is well known that Ireland's banks will need more funding, I have heard various figures mentioned from €8bn to €20bn and, like Cyprus, they might take a certain sum from everyones bank account although I think the threat of that has recceeded.
Greece is rumoured to be getting a third bailout so all these things have the capacity to drives prices down as easily as they have risen. However, demand is high and supply is low in South County Dublin so if that remains prices will continue to rise there.
Rumours of a new mortgage provider entering the Irish market will boost house prices too temporarily. Personally I think, with the exception of some rural areas, we're not going to see any more significant drops. House prices have bobbled along at a similar price the last couple of years in Dublin and most rural areas have been the same I think. If you charted it you'd expect to see a spike, big drop and a steadyish line the last couple of years. I think we'll see a very slow and steady increase in line with the usual inflation in the future
Investec is the new provider.
Yeah that's what I read today alright. There'll always be steady prices in areas that have demand IMO, Dingle town is still strong but a few miles outside it prices are rock bottom for example
I'm hoping for another boom, fully expect this stupid country to allow it happen too.
No real surprise that a new entrant is coming into the market as they don't have to deal with all the non performing loans which the other banks have to deal with. I agree that not all areas will recover equally or indeed at all.
If NAMA have their way you could very well be right.
We haven't built any family homes in south Dublin since 2008, that is the main reason why house prices are rising, every Saturday morning you'll see anything up to 50 people viewing a 3 bed semi in south Dublin, it's crazy
The sooner we get building again the better
The only ones built have been 5 bed homes, who will build 100 houses when they can build 600 apartments?
I don't think to many people would be interested now.a.days in buying apartments after seeing the trap that a lot of young families are currently in
They will need somewhere to live and a 3 bed around the corner from their mammy won't be an option. A new spin about more "family friendly" apartments will seal the deal.
I brought a friend around a few 2 bed mid terrace houses to rent out my way recently, I was shocked at the amount of people viewing them. Real eye opener!
I agree on the apartments too, I think people are wiser now and will buy for the long term as opposed to the 'just get on the property ladder' attitude a few years back
Careful now, those lads have a reputation around Dublin and it ain't for providing cheap rates to the masses
As for the prices of Dublin properties rising ... Yippppeeee, I might just crawl out of this negative equity mess yet
Three cheers for Daft.ie
There's a lot of building going on again Dave!! We are supplying at least 15 new developments around dublin
Never buying a house in Dublin. People are nuts.