Good time to buy property?

goodie2shoes

FOUR out of five people believe now is a good time to buy a house, although similar numbers feel prices will still fall more, an Irish Independent/ Millward Brown Lansdowne poll reveals.


Indicating light at the end of the tunnel for the property market, the sentiment towards house buying has improved substantially – although with little help from the banks.

The poll comes as figures show the number of new mortgages in the first three months of the year fell again, but the rate of decline did slow down. In a clear indication that the majority believe there is value in the market, only 15pc of those polled disagreed with the idea that now was a good time to buy.

- Mark Keenan, Peter Flanagan and Fionnan Sheahan

http://www.independent.ie/national-news/its-a-good-time-to-buy-a-house-even-if-prices-are-still-falling-3112294.html

Run_to_da_hills

We heard those exact same words from Bertie. :rolleyes:

LETHAL LADY

I know 5 people and all 5 of them would not buy a house now for the simple reason being they do not have tuppence to jingle on a tombstone.

IM0

quote fail.

Chucken

http://www.boards.ie/vbulletin/showthread.php?p=51113977

Post 59 is :pac::pac::pac::pac::pac::pac::pac:

starbelgrade

It really depends on the property. Some properties that are now available are for sale at prices you will never see again. Others you wouldn't touch with a barge pole.

There's no easy answer to your question.

DEFTLEFTHAND

Chucken wrote: »

http://www.boards.ie/vbulletin/showthread.php?p=51113977

Post 59 is :pac::pac::pac::pac::pac::pac::pac:

Are you any relation to chucken1? :pac:

true

Run_to_da_hills wrote: »

We heard those exact same words from Bertie. :rolleyes:

dats right;)

Here in Dublin prices will fall further anyway, with future austerity, emigration, euro problems, tax increases etc. Property is still too expensive compared to peoples incomes, which are falling.

FinnLizzy

Chucken wrote: »

http://www.boards.ie/vbulletin/showthread.php?p=51113977

Post 59 is :pac::pac::pac::pac::pac::pac::pac:

Jaysus! He's on more Tigerblood than Charlie Sheen!

Chucken

FinnLizzy wrote: »

Jaysus! He's on more Tigerblood than Charlie Sheen!

6 years ago..were'nt they all

QuiteInterestin

goodie2shoes wrote: »

FOUR out of five people believe now is a good time to buy a house, although similar numbers feel prices will still fall more, an Irish Independent/ Millward Brown Lansdowne poll reveals.

The poll comes as figures show the number of new mortgages in the first three months of the year fell again, but the rate of decline did slow down. In a clear indication that the majority believe there is value in the market, only 15pc of those polled disagreed with the idea that now was a good time to buy.

While the majority also feel prices will continue to fall, they do not believe this is significant enough to put off would-be buyers. While seven-in-10 people believe the housing market has not yet bottomed out and prices will continue to fall, four-fifths agree now is a good time to buy.

And most people believe more needs to be done to help those in negative equity to transfer their mortgages and to wipe the debt of homeowners who hand back the keys.

Almost half of those surveyed said they felt strongly that it was a good time to buy, with three in 10 agreeing slightly.

On the housing market and home loans, there is a belief mortgage holders and potential applicants should be given a fairer deal.

? 78pc feel homeowners should be allowed keep their low-interest tracker mortgages when moving house.

? 69pc think those who can't pay their mortgages should have their debts written off once they have handed back the keys and it has been sold by the bank.

? 68pc believe homeowners whose houses are in negative equity should be allowed to get a new mortgage and carry the negative equity with them.

? Only 14pc reckon banks are doing enough to help potential house buyers get mortgages.

The relatively positive mood on the market is reflected right across all groups. In terms of those who think it's a good time to buy, there are practically no differences along the lines of gender, age or social class.

The view that it's a good time to buy is slightly higher among working class people, but not massively.

Official indications at the start of this month suggested the end of the property collapse could be in sight.

Stabilising

Property prices were unchanged in March, and actually rose in Dublin, according to the Central Statistics Office (CSO).

Prices have now fallen by 49pc from the peak of the market in 2007.

Experts said the latest figures may indicate that property prices are close to stabilising after five years of falling.

However, economists feel that even if property prices have stopped falling, they may not rise for a year or more.

- Mark Keenan, Peter Flanagan and Fionnan Sheahan
http://www.independent.ie/national-news/its-a-good-time-to-buy-a-house-even-if-prices-are-still-falling-3112294.html

An awful lot of feeling and believing going on, not much statistics or data besides consumer sentiment to back it up. Hmmm, would the Irish Independent have an ulterior motive for trying to talk up the property market?

starbelgrade

QuiteInterestin wrote: »

An awful lot of feeling and believing going on, not much statistics or data to back it up. Hmmm, would the Irish Independent have an ulterior motive for trying to talk up the property market?

The success or failure of all markets depends upon consumer confidence.

.

Pedant

Only idiots who follow the herd would buy properties during booms (as many did).

You buy during recessions and when the market hits rock bottom, not when everything is through the roof.

A golden rule of thumb when investing: You buy during busts and sell during booms, not the other way around.

Now, personally, I'd wait a little while longer to buy a property, the market hasn't quite hit rock bottom just yet, but we're nearly there.

true

Pedant wrote: »

the market hasn't quite hit rock bottom just yet, but we're nearly there.

wait until another 15 billion a year is sucked out of the economy / we cannot have current budget defecit.

Then the real show starts;)

Chucken

Would'nt it be great if, next time round,people buy a house to live in that they can afford?

Logical Fallacy

I just bought a house...smashing value for money. For people who have the capital and are willing to look outside of Dublin it's a great market right now.

QuiteInterestin

starbelgrade wrote: »

The success or failure of all markets depends upon consumer confidence.

.

Thanks, didn't think about it like that, just thought all the 'feeling' and 'may suggest' etc managed to imply that now was the time to buy without much data to back it up. Probably just annoyed by this article in general, my mother has being giving me the odd hint about buying (which I have no interest in doing) and this article set her off again.

true

Chucken wrote: »

Would'nt it be great if, next time round,people buy a house to live in that they can afford?

yes. Historically, in many other places in the world, its 3 or 4 times average industrial income. ( which is in the low to mid thirties k in the country ). Here in Dublin you would not get a decent house for that yet - prices still have some way to fall.

Senna

starbelgrade wrote: »

Some properties that are now available are for sale at prices you will never see again.

Very true, they'll be 10% lower next year and the only way they will rise is if the price is in punts.

washman3

Roll up, Roll up, get on the "ladder" everyone. now is the time.
If you dont buy now you will never get on the "ladder"
Take no notice of those on the sidelines moaning and cribbing.!!!
Just tell them to go commit suicide...
The fundementals are "sound"
The "soft landing" has been reached....:D:D:D

suicide_circus

Yes defo.
Like, you've gotta get on the ladder, rent is dead money