Two tier Housing Market Apartments v Houses

finnegan2010

Was just listening to Radio 1 there on the drive home. The economist Karl Deeter was on
He was talking about Fixed interest rates going up a LOT this year among other things he mentioned a 2 tier market that has developed or is developing.
He asserts 3 bed semis and 4 bed market strong while the apartment market is in free-fall.
We have all heard that prices are back at 2002 prices as an average. so does this mean for instance apartment prices are back to say 00 or even 1999 prices?

astrofool

If you go over to the pin, you'll find a few people asseting that apartment = house for all intents and purposes.

This of course isn't true, and most people wanted a house (3bed+) but made do with an apartment while it was gaining equity.

They all have to sell now, and lots more were built in stupid places, leading to a glut of family un-friendly apartments on the market driving the price down.

EricPraline

finnegan2010 wrote: »

Was just listening to Radio 1 there on the drive home. The economist Karl Deeter was on

A minor point, but he's a mortgage broker, not an economist.

This week's Daft report also talked about a two-tier market, but that was more referring to Dublin and other cities, versus the rest of the country.

I haven't seen figures in any recent report that indicate that demand is "strong" for any type of property in any location.

Mr. Loverman

finnegan2010 wrote: »

We have all heard that prices are back at 2002 prices as an average

Are they really though? The only people who are saying that are those with a vested interest in people buying again, e.g. estate agents.

D3PO

EricPraline wrote: »

A minor point, but he's a mortgage broker, not an economist.

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actually hes an economist that works for a mortgage broker.