Another month of positive property price growth.

goodie2shoes

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

Praetorian Saighdiuir

LOL

Did we suddenly all get rich "again"?

I must tell my accountant

Boombastic

Houses make good Christmas presents

Gummy Panda

Why not post in the correct forum then?

galwayrush

Just looked in my wallet, nope, no recovery yet.

donvito99

Money is pouring down my chimney! Let the good times roll!

galwayrush

donvito99 wrote: »

Money is pouring down my chimney! Let the good times roll!

Ahh, so that's where i went wrong, i was short of money when i was building and didn't put a chimney in.:mad:

leonidas83

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

Unfortunately its false hope. The main reason why prices have been rising again in recent months is because people are trying to get on the property ladder before the cut off for the mortgage interest relief which ends in two days time. Expect more decreases in the new year when this is gone.

squod

*Runs off to buy two bed appt in Roscommon Tallagh*

mikemac1

leonidas83 wrote: »

The main reason why prices have been rising again in recent months is because people are trying to get on the property ladder before the cut off for the mortgage interest relief which ends in two days time. Expect more decreases in the new year when this is gone.

+1

Came here to post that

There are lots and lots of threads on boards.ie about buyers looking to complete before the deadline

theteal

This news was out several days ago, I'm actually shocked this OP didn't post sooner. Yawn.

Mr Benevolent

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

Are you seriously gullible enough to believe what you read in the Independent?

BBDBB

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html[/QUOTE]


From the article you quote

"Economists said it was too early to conclude that prices would now keep rising, but most agreed values may have at least stopped falling. "

secondly, price of property is only one indicator, number of transactions is arguably the more significant figure in recovery terms

thirdly and of least importance there is often a significant difference between the price a property is marketed at and the price it actually sells for, at a glance I didnt see that distinction made in the article though I may have missed it as Im watching rugby

bijapos

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

goodie2shoes

mikemac1 wrote: »

+1

Came here to post that

There are lots and lots of threads on boards.ie about buyers looking to complete before the deadline

funny there was lots of people saying the tax relief scheme was a con, and would have no effect on the market.
now those same people are telling us the market will fall again once it ends. seems they change their story to fit the facts?

i suppose even a broken clock gets the time right ............:D

Boombastic

goodie2shoes wrote: »

.......................

i suppose even a broken clock gets the time right ............:D

pot meet kettle:pac:

goodie2shoes

bijapos wrote: »

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

i disagree totally.
a return to positive sustainable (not the speculative bubble we had btw!) property price growth would have a hugely beneficial effect on the domestic market/economy.
people would feel better-off and would resume spending more money, thereby having a positive spin-off for shops, restaurants, taxes, jobs.
you clearly have no idea how the real economy actually works.

MrPoker

bijapos wrote: »

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

Very true. The market is still artificially propped up imo. There is a unhealthy obsession with property in this country. Rental prices around Dublin are also ridiculous. Don't believe the propaganda being spewed in the Indo. It is no absolutely no benefit to the economy for property prices to rise whatsoever. This will further cripple the domestic economy. Cheap credit will not be as freely available again also.

venividi

bijapos wrote: »

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

Couldn't agree more. In addition unsustainable house price increases lead to unsustainable wage increases a loss of competiveness. Modest increases in house prices ok & obviously good for confidence

housetypeb

How soon before we can release equity to buy a new car etc????

Dr. Greenthumb

goodie2shoes wrote: »

i disagree totally.
a return to positive sustainable (not the speculative bubble we had btw!) property price growth would have a hugely beneficial effect on the domestic market/economy.
people would feel better-off and would resume spending more money, thereby having a positive spin-off for shops, restaurants, taxes, jobs.
you clearly have no idea how the real economy actually works.

Considering the levels of negative equity in this country that will require a significant rise in house prices and a runaway property market is what got us here in the first place.

What you would like to see is enough of an increase that people would be willing to sell (taking an affordable hit on their negative equity) to other people who would then be taking out unaffordable mortgages.

The problem in Ireland isn't that house prices are undervalued at the moment but more like they were hugely over valued during the boom, all driven by people with a warped view on economics like you.

There is more to a sustainable economy than "if we spend money we will generate money... somehow".

3ndahalfof6

So house prices go up by fiddy pee and all is forgiven, I don't fooking think so.

latenia

goodie2shoes wrote: »

i disagree totally.
a return to positive sustainable (not the speculative bubble we had btw!) property price growth would have a hugely beneficial effect on the domestic market/economy.
people would feel better-off and would resume spending more money, thereby having a positive spin-off for shops, restaurants, taxes, jobs.
you clearly have no idea how the real economy actually works.

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

spikethedog

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

It's a sign that we've reached the bottom and shows some tentative signs of recovery.
Hopefully the rest of the economy follows.

spikethedog

latenia wrote: »

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

What in the name of God are you on about?

TwoShedsJackson

latenia wrote: »

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

He's a landlord.

BBDBB

latenia wrote: »

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

Pity, it was a fair question you asked

It wont change the amount of money in the economy but it will start to redistribute it which is good news



people who buy houses spend money on a whole raft of new stuff to furnish their new house such as carpets, curtains, sofas, garden equipment, DIY equipment and materials for decorating and renovations. They buy those things at shops who start to hit targets, the owners of which start to invest in the future rather than holding onto what they have and making cuts.

people who sell houses often need to buy somewhere to live (excluding those who die, move abroad or into alternative accomodation) again they spend money etc etc

but that still doesnt mean that the above news means that a recovery has started, its a good sign, but its fragile and the future is still not certain

Big Bottom

I'm sorry but anyone who was foolish enough to buy an apartment deserves to be in huge debt there was no excuse.

gurramok

Indo- bastion of facts and truth :rolleyes: Damn, I missed the boat by not buying, when does the next boat sail :rolleyes:

Mr Benevolent

Meh, OP is a notorious property shill on Boards.

humbert

Take it you're still banned from the Accommodation and Property forum then?

Cee-Jay-Cee

I travel every where by gravy train.

3ndahalfof6

CJC999 wrote: »

I travel every where by gravy train.

Hi Berti, have a good 1.

Best username ever

The prices in certain areas are still dropping. I remember in 2006 houses in killinarden in Tallaght were selling for nearly 300k, now you can buy an expensive one for 80k. The shítty areas are continuing to drop whilst better areas are seeing a value increase.

xper

Ah, a goodie2shoes post about property. Always good for a laugh!

goodie2shoes wrote: »

...In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

This fact alone should tell you that what has gone on in the Dublin property market in the last four months or so is exceptional and, as such, it is folly to rely on it as any sort of indicator for anything whatsoever.

venividi

Big Bottom wrote: »

I'm sorry but anyone who was foolish enough to buy an apartment deserves to be in huge debt there was no excuse.

V harsh comment. Buyers have obviously to accept the consequences of their actions, but regulators, bankers, politicians journalists and the establishment in general shoulder a greater proportion of the blame 4 the bubble. Everything is easy with hindsight but it was very difficult 4 young people to go against the general consensus in the face of the prospect of missing their possibly only chance to get on the property ladder.

Dan133269

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.

goodie2shoes wrote: »

a return to positive sustainable (not the speculative bubble we had btw!) property price growth would have a hugely beneficial effect on the domestic market/economy.
people would feel better-off and would resume spending more money

coolhull

goodie2shoes wrote: »

funny there was lots of people saying the tax relief scheme was a con, and would have no effect on the market.
now those same people are telling us the market will fall again once it ends. seems they change their story to fit the facts?

i suppose even a broken clock gets the time right ............:D

Developer??

goodie2shoes

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

The Pindoctors have torn that article apart, just look at all the comments. :pac:

Rereggie Perrin

Prices fall again, all over the country. CSO figures for December:

Summary:
Dublin House prices are 54.4% lower than at their highest level in April 2007 (fell by 1.7% in the month of December 2012 and were 1.7% lower compared to a year earlier)

Dublin Apartments are now 62.3% lower than their peak in February 2007 (rose by 3.7% in the month of December 2012 but were 10.9% lower compared to a year earlier)

Dublin Residential property prices are 56.0% lower than at their highest level in February 2007 (fell by 1.3% in the month of December 2012 and were 6.1% lower than a year ago)

Residential properties in the Rest of Ireland are 46.6% lower than highest level in September 2007 (flat in December 2012 but were 6.1% lower compared to a year earlier)

Overall, the national index is 49.6% lower than its highest level in September 2007 (fell by 0.5% in December 2012 and were 4.5% lower compared to a year earlier)

Of course Goodie2Shoes will not be seen again posting on this subject for another few months when a blip upwards disturbs the continuing downward trend.