More "evidence" of property prices going up?

goodie2shoes

A DNG survey would seem to indicate that Dublin house prices have reached the bottom, and are in fact on the way up.

http://www.independent.ie/business/personal-finance/property-mortgages/dublin-house-prices-record-first-quarterly-increase-in-six-years-report-3243433.html

Many posters (I could name them already) will doubtless dissmiss this as propaganda or delusional nonsense, but it does come on the back of other positive news for the housing market, namely a CSO survey which shows which shows the biggest house price increase in 5 years.

Already in parts of the country there is strong evidence of a shortage of certain types of housing beginning to emerge.

Any thoughts? Have we reached the bottom? or is this just "propaganda"?

davet82

there is two huge threads on the subject in the accomadation forum

jaykay74

DUBLIN house prices enjoyed their first quarterly increase in six years, estate agent DNG said today.

I think listening to estate agents opinions on this is a good idea. :pac:

goodie2shoes

davet82 wrote: »

there is two huge threads on the subject in the accomadation forum

that forum is full of bears!

ScumLord

House prices going up is only good for the people that over paid.

charlemont

goodie2shoes wrote: »

that forum is full of bears!

Except me, I think I'm banned from that forum.;)

KindOfIrish

all depends on ability to pay. in 2011 budget deficit was 25%. The only way to reduce it is higher taxes and lower salaries in PS. What ever government is saying PS salaries will be reduced. So, who will buy houses?

Rigol

id buy in now if i was looking and had the cash.

cloptrop

And when nama finally release all their houses will prices keep rising ?
And when the banks start taking back all the houses and trying to sell them off will the prices keep rising ?
Dont be a feckin eejit and stay away from that mortgage for a while yet.

goodie2shoes

charlemont wrote: »

Except me, I think I'm banned from that forum.;)

u naughty boy!:eek:

Dravokivich

goodie2shoes wrote: »

Any thoughts?

I hope they aren't on the way up. The prices are still kind of excessive and I recon pushing them back up again is only gonna create more problems in the long term.

jmayo

goodie2shoes wrote: »

that forum is full of bears!

You mean you are called up on the bull you are pedalling over there, so now you have decided to start pedalling it here.

As has been pointed out to you over on Accomodation and Property you disappear everytime one of these latest predictions are shown to be bullsh**.

How many properties are you running out to buy this time ?

You have continously refused to answer my points on that forum so I guess you will do the same here.

BTW how is business these days down the estate agents. :rolleyes:

EDIT: just noticed you are banned over there so I guess you have to spoof somewhere.
Pity the readers in this forum are now stcuk with you.

goodie2shoes

cloptrop wrote: »

And when nama finally release all their houses will prices keep rising ?
And when the banks start taking back all the houses and trying to sell them off will the prices keep rising ?
Dont be a feckin eejit and stay away from that mortgage for a while yet.

yes but what about folk that may not require a mortgage?
surely it's a good time to buy?
especially if you're gonna rent it out.

westendgirlie

I'm taking a trip to the Accomodation and Property forum. Will I need pepper spray?

goodie2shoes

westendgirlie wrote: »

I'm taking a trip to the Accomodation and Property forum. Will I need pepper spray?

no but just try not to be positive. it's best to assume the disposition of a shrewd renter who has forked out over €100k on dead money. They'll love ya!:D

cloptrop

goodie2shoes wrote: »

cloptrop wrote: »

And when nama finally release all their houses will prices keep rising ?
And when the banks start taking back all the houses and trying to sell them off will the prices keep rising ?
Dont be a feckin eejit and stay away from that mortgage for a while yet.

yes but what about folk that may not require a mortgage?
surely it's a good time to buy?
especially if you're gonna rent it out.

I take it you either work in house sellin or have houses to sell . Wheres your conscience trying to ruin peoples lives with mortgages just to make a few crumbs for yourself. When all the nama houses go out you will find it very hard to even rent out your house.

goodie2shoes

cloptrop wrote: »

And when nama finally release all their houses will prices keep rising ?
And when the banks start taking back all the houses and trying to sell them off will the prices keep rising ?
Dont be a feckin eejit and stay away from that mortgage for a while yet.

NAMA's Brendan McDonagh says there's a shortage of family homes. It was on the 1 O'clock news earlier.
More propaganda?

rockclover1

there are too many speculators on property,the property boom is what got us in trouble the last time,it would be stupid to speculate on increases again..

the recession is still here,unemployment is high,there has been an increase for demand in social housing.

that alone means people cannot buy.and its harder to get loans,it would be foolish of propetiers to increase their house prices,unless they want to price themselves out of the recession market..

davet82

for every one billion in public sector cuts, it translates to 750 million taken out of the domestic economy so i'm sure there will be plenty of money going around for people to buy property with, dont mind the over supply we still have with more to follow as they get released from nama, emigration and unemployment on the rise ect...

property price register will force prices down (as EA cant lie as much as they use to) and as will the suckers who are snapping up now to avail of mortgage relief will be gone next year...

dont mind the fact 40% of mortgage applications are being refused by banks for people who do want to buy!


no property prices have still a bit to go imo

there is being positive and then there is being foolish

LittleBook

davet82 wrote: »

there is two huge threads on the subject in the accomadation forum

Yes but the OP, who started one of those threads, just got banned from the Accommodation and Property forum. He has to find somewhere to talk up the property market! :pac:

jaykay74

goodie2shoes wrote: »

no but just try not to be positive. it's best to assume the disposition of a shrewd renter who has forked out over €100k on dead money. They'll love ya!:D

Dead money ? Over here in Sweden everyone rents. They must all be idiots

jmayo

jaykay74 wrote: »

Dead money ? Over here in Sweden everyone rents. They must all be idiots

Ah but shure everyone but goodietwohouses is an idiot.

goodie2shoes

jaykay74 wrote: »

Dead money ? Over here in Sweden everyone rents. They must all be idiots

Yes Scandie countries have a mature, well developed, well regulated rental market unlike here. There would also be huge cultural & historic reasons for this.

Try comparing the German or French health system with ours, and I think you'll find there are vast differences also. But that's another topic .....

seamus

Anecdotally speaking a lot more properties are now selling (I know of 3 in the last 6 months that had been sitting unsold for more than 3 years), but that doesn't mean prices are going up. They might be selling, but they're still selling under asking.

fishy fishy

goodie2shoes wrote: »

A DNG survey would seem to indicate that Dublin house prices have reached the bottom, and are in fact on the way up.

http://www.independent.ie/business/personal-finance/property-mortgages/dublin-house-prices-record-first-quarterly-increase-in-six-years-report-3243433.html

Many posters (I could name them already) will doubtless dissmiss this as propaganda or delusional nonsense, but it does come on the back of other positive news for the housing market, namely a CSO survey which shows which shows the biggest house price increase in 5 years.

Already in parts of the country there is strong evidence of a shortage of certain types of housing beginning to emerge.

Any thoughts? Have we reached the bottom? or is this just "propaganda"?

the budget will sort that out - after the budget you will be able to purchase a house for 99.99 Euro. However most people will not be able to afford 99.99 Euro after the budget.

Gone Drinking

This is propaganda or delusional nonsense.

goodie2shoes

seamus wrote: »

Anecdotally speaking a lot more properties are now selling (I know of 3 in the last 6 months that had been sitting unsold for more than 3 years), but that doesn't mean prices are going up. They might be selling, but they're still selling under asking.

be careful there Seamus, you're dangerously close to positivity there!

i too have been keeping an eye on a number of units, and have noticed they are selling. the right property in the right location will sell. for the right price.

goodie2shoes

fishy fishy wrote: »

the budget will sort that out - after the budget you will be able to purchase a house for 99.99 Euro. However most people will not be able to afford 99.99 Euro after the budget.

sorry but this is the sort of nonsense that mitigates against a proper debate.

Jumpaddict

goodie2shoes wrote: »

NAMA's Brendan McDonagh says there's a shortage of family homes. It was on the 1 O'clock news earlier.
More propaganda?

Nail--->Head

You answered your own question;)

ejmaztec

It's a great pity if anyone needs a mortgage to buy one of these cheap properties, because all the lenders seem to be walking round with their empty trouser pockets turned out, as if they're doing a drunken party-piece elephant impersonation without the trunk.

goodie2shoes

Jumpaddict wrote: »

Nail--->Head

You answered your own question;)

i was being rhetorical, but you obviously didn't get that.:o

http://www.rte.ie/news/2012/0928/tenants-secured-for-4-000-empty-apartments-nama-business.html

Zamboni

goodie2shoes wrote: »

sorry but this is the sort of nonsense that mitigates against a proper debate.

You have some neck making a statement like that...

K-9

Cut out the pettiness please and discuss the actual topic please.

Toby Take a Bow

goodie2shoes wrote: »

i was being rhetorical, but you obviously didn't get that.:o

http://www.rte.ie/news/2012/0928/tenants-secured-for-4-000-empty-apartments-nama-business.html

The poster was probably aware of your rhetoric, but called you on it.

Also, NAMA, a company with one of, if not the, biggest property portfolios in the world, attempting to talk up the property market? And you're complaining about propaganda?

magicbastarder

definite upswing in interest in three and four beds in established areas, i have seen a massive increase in interest in house viewings i've gone to. there have been a lot more open viewings; one i was at recently, there were 13 parties viewing - there were about 20 or 25 people in the house at one point.

Zamboni

magicbastarder wrote: »

definite upswing in interest in three and four beds in established areas, i have seen a massive increase in interest in house viewings i've gone to. there have been a lot more open viewings; one i was at recently, there were 13 parties viewing - there were about 20 or 25 people in the house at one point.

I've been doing a lot of tyre kicking myself recently.
I'm not buying anything though.
There are some folks getting suckered in by the lure of ending mortgage interest relief.

magicbastarder

i'd say close to half the properties i've viewed have been executor sales - no point in keeping them off the market waiting for an upswing, if you have to put money into it to even make it rentable.

Fratton Fred

DNG have been telling us for the last five years that property prices are going up.

Monty Burnz

Is this the same DNG who predicted a 'soft landing' back in 2006?

Paul Murgatroyd, DNG economist, said: “We do seem to be moving into a period of soft landing. The downturn, everything will be fine scenario we have been hearing about, it looks like it is coming to fruition.

“We are moving into a soft landing and stabilising of house price growth, but certainly there is no crash or big dip.

“The balances of power are shifting back to the buyer from the vendor slightly but the downside is that there is the double-edged sword of raising increased sums to fund the buying and paying back loans.”

Mr Murgatroyd also warned that first time buyers sat on their hands in 2001 expecting prices to keep on falling but in the first quarter of 2002 prices saw a 6.5% rise, making up all the ground that was lost in the previous year.

It's not like these guys have an incentive to try to talk up property or anything, is it? Pure propaganda.

cloptrop

Theres a documentary on netflix called the flaw . It shows the sillyness of investing in houses .

goodie2shoes

cloptrop wrote: »

Theres a documentary on netflix called the flaw . It shows the sillyness of investing in houses .

for many people it has been a disaster, but such a generalization is so inaccurate.

personally i know plenty of people who have made buckets of cash out of property. the thing is you wont hear them on Joe Duffy as much as you will those who have lost out, as the latter tend to be more vocal.

Toby Take a Bow

goodie2shoes wrote: »

for many people it has been a disaster, but such a generalization is so inaccurate.

personally i know plenty of people who have made buckets of cash out of property. the thing is you wont hear them on Joe Duffy as much as you will those who have lost out, as the latter tend to be more vocal.

I think you may be confusing 'more vocal' with there being far more of them.

Monty Burnz

goodie2shoes wrote: »

personally i know plenty of people who have made buckets of cash out of property. the thing is you wont hear them on Joe Duffy as much as you will those who have lost out, as the latter tend to be more vocal.

I know hundreds of thousands who have lost hundreds of thousands.

admiralofthefleet

delighted if they are. me and my 2 brothers are putitng one on the market soon

Cardex

Some people attribute the apparent rise to a dead cat bounce.

Prices do appear to be rising in certain areas, primarily South Co. Dublin where it seems houses are going for over the asking.

Possibly driven by:

• A year end surge of people keen to lock into mortgage interest relief.
• There may be a lot of people who did not buy at the peak who are currently sitting on reasonably good deposits and keen to get off the fence and buy their family home. There are, however, only a limited number of these. Once they've bought, they're gone and you could find in the new year that there's a big drop off in demand and interest.
• Fair amount of public servants in their mid 50s who took enhanced pensions and lump sums during the grace period to end February 2012. It's possible that they are entering the market to buy trade-down retirement homes while holding on to their original family home as an investment.

In summary, never believe an estate agent.

magicbastarder

from what i have seen (from having been to about 20 house viewings), the (possibly dead cat) bounce in the 3/4 bed semi market is due to a younger generation than posited above - the interest seems to be from couples in their 30s (one estate agent confessed to us that she feels like a babysitter these days), and what we've seen bears that out.

the sort of people buying a house they intend to live in for a couple of decades are not going to be unduly worried about buying 10% above the bottom; if you're obsessed about buying precisely at the bottom, you are buying for an investment, not a home.

goodie2shoes

magicbastarder wrote: »

from what i have seen (from having been to about 20 house viewings), the (possibly dead cat) bounce in the 3/4 bed semi market is due to a younger generation than posited above - the interest seems to be from couples in their 30s (one estate agent confessed to us that she feels like a babysitter these days), and what we've seen bears that out.

the sort of people buying a house they intend to live in for a couple of decades are not going to be unduly worried about buying 10% above the bottom; if you're obsessed about buying precisely at the bottom, you are buying for an investment, not a home.

absolutely. people waiting for the exact bottom before they take the plunge are gonna be disappointed. on the other hand people looking to create a family home are realizing that there's excellent value to be had and are going for it. it's better than renting as most people already know.

http://www.independent.ie/business/personal-finance/property-mortgages/rent-rises-and-regulations-lead-tenants-on-a-merry-dance-3230162.html

Monty Burnz

goodie2shoes wrote: »

are realizing that there's excellent value to be had and are going for it. it's better than renting as most people already know.

Excellent value? Where exactly? We've blown off most of the bubble excess valuations, so properties are now priced for a normal economic situation. Are we in a normal economic situation? Or are we up sh!t creek having lost our sovereignty?

As to whether it's better to buy than rent - that really depends on whether you are happy to be stuck in one location when your job is a mouse-click from disappearing, and whether you are happy to take on a 30-year six-figure mortgage at a time of unprecedented economic uncertainty.

niallo27

Well i bought a year ago and im sorry i did, i didnt do too bad compared to most but i could have saved 50 grand if i had waited, if anyone is thinking of buying i would tell them to wait another two years at least, your not going miss on anything by waiting and you will save double if not more what you will pay in rent.

anncoates

If and when there is an upturn it will be denied by many as furiously as those who furiously denied the first signs of the crash.

That's because you now have a significant body of people almost enjoying the crash - whether as property owners in waiting or smug revellers in the misfortune of others. A body of people whose endless smug trumpet blowing about financial rectitude is almost as annoying as the people boring everybody about 'getting on the ladder' 6 or 7 years ago.

Shryke

anncoates wrote: »

If and when there is an upturn it will be denied by many as furiously as those who furiously denied the first signs of the crash.

That's because you now have a significant body of people almost enjoying the crash - whether as property owners in waiting or smug revellers in the misfortune of others. A body of people whose endless smug trumpet blowing about financial rectitude is almost as annoying as the people boring everybody about 'getting on the ladder' 6 or 7 years ago.

Fair play to anyone who can get some amusement out of the crash. You're begrudging people for not being in dire straights to jump on property and for having some cop on.
NOTHING is as boorish as people banging on about their houses and property.