Looks like Property Prices are ACTUALLY on the way up.

space_man

i've been saying as much for the past 6 months.
people interested in buying need to act.

http://www.independent.ie/irish-news/regional-property-prices-rising-29319535.html

Cavehill Red

Hahahahahahahahahahahahaha.

*pause to breathe*

Hahahahahahahahahahahahaha.

No, they're not. Stop shilling. I expect it off the Indo, but not off boardsies.

Nabber

Until NAMA sell off their portfolio, house/property prices will be skewed

theteal

not enough rolleyes in t'internet

Essien

I'm offering 110% mortgages, pm if interested.

SEPT 23 1989

We just keep turning that corner:rolleyes:

c_man

Nice one. Gonna get me a 100% mortgage and start voting FF

FearDark

Boring.
Next!

Real Life

Quick get yourself a mortgage before the prices go up any more

Montroseee

115% Mortgages with the leftover cash for a new merc, extension, yacht and trip to Bali

space_man

Real Life wrote: »

Quick get yourself a mortgage before the prices go up any more

actually for cash buyers there's very good bargains to be had, especially bank repossessions.

(i would never advise someone to take out anything greater than a 80% mortgage in any case).

Hownowcow

OP would you be interested in some decking?

SEPT 23 1989

Montroseee wrote: »

115% Mortgages with the leftover cash for a new merc, extension, yacht and trip to Bali

Dont forget the Jacuzzi and a new pair of t1ts for the wife

space_man

Hownowcow wrote: »

OP would you be interested in some decking?

no i dont like decking.
give me a nice well kept lawn anyday.

nino1

The Irish independent said it so it must be true!

Hold on, they also said this in 2007

Kevin Murphy, Irish Independent Journalist
Irish Independent, 28 Jan 2007:

"THE soft landing for Irish house prices would appear to be official.

Last week, the consensus was that house prices would rise by about 5 per cent in 2007. The IAVI, Gunnes and IIB Bank believe we are on course to do what many thought was impossible. We are climbing down from heady heights in an orderly fashion.

And thank goodness for that."


They would love another bubble to sell all their property ad's.
they were one of the worst offenders for "talking up" the property bubble.

marketty

The Irish Independent is becoming even less credible then the Daily Fail. Once your source is the Indo you can forget about having a balanced discussion, especially if its to do with property. I don't believe the market is recovering but there's plenty of rubbish on the other side too, people seem to think that nama is eventually gonna sell off 3 bed semis in the commuter belt at 2 for a euro, that won't be allowed happen. More than likely we will bounce along roughly where we are now for a while.

That's purely my opinion though, I wouldn't claim to know anything for sure

space_man

nino1 wrote: »

The Irish independent said it so it must be true!

Hold on, they also said this in 2007

Kevin Murphy, Irish Independent Journalist
Irish Independent, 28 Jan 2007:

"THE soft landing for Irish house prices would appear to be official.

Last week, the consensus was that house prices would rise by about 5 per cent in 2007. The IAVI, Gunnes and IIB Bank believe we are on course to do what many thought was impossible. We are climbing down from heady heights in an orderly fashion.

And thank goodness for that."


They would love another bubble to sell all their property ad's.
they were one of the worst offenders for "talking up" the property bubble.

to be fair i think most of the country got it wrong.

AlekSmart

space_man wrote: »

i've been saying as much for the past 6 months.
People interested in buying need to act.

http://www.independent.ie/irish-news/regional-property-prices-rising-29319535.html

But,would you agree that those folks NOT interested or realistically able to afford should lie still and relax...?

FWIW,I believe the market correction has not even reached half-way point yet......"Down down down into that burnin ring of fire"

nino1

space_man wrote: »

to be fair i think most of the country got it wrong.

Most of the country didn't have a vested interest like the indo did.

nino1

space_man wrote: »

i've been saying as much for the past 6 months.
people interested in buying need to act.

http://www.independent.ie/irish-news/regional-property-prices-rising-29319535.html

Out of interest, if you were interested in buying would you really "act fast" based on a piece on the indo?

space_man

nino1 wrote: »

Out of interest, if you were interested in buying would you really "act fast" based on a piece on the indo?

not on 1 piece of info, but i do think prices have stabilised and are now starting to (slowly) move upwards.
so imo it's a good time to invest.

RustyNut

space_man wrote: »

i've been saying as much for the past 6 months.
people interested in buying need to act.

http://www.independent.ie/irish-news/regional-property-prices-rising-29319535.html

Just out of intrest OP how much have property prices actually gone up in the last 6 months that you have been saying as much ?

Cody Pomeray

People are getting so het up about the fact this story was published in the indo.

So what? The data comes from the Central Statistics Office.

It's also published in the Irish Times and other media. The story is legit.

Hownowcow

space_man wrote: »

not on 1 piece of info, but i do think prices have stabilised and are now starting to (slowly) move upwards.
so imo it's a good time to invest.

I hoped we'd seen the last of that. I'd like to see houses being bought as homes again rather than as investments.

gurramok

Cody Pomeray wrote: »

People are getting so het up about the fact this story was published in the indo.

So what? The data comes from the Central Statistics Office.

It's also published in the Irish Times and other media. The story is legit.

They(prices) went down last month, its a rollercoaster. Funny to see the OP glad that prices are on the way up to the detriment of anyone who wants to buy a roof over their heads.

doolox

Because all the jobs are there and maybe in large Population Centres like Cork and Galway but will fall elsewhere. We have not had any significant number of houses built since 2007. This cannot continue indefinitely.

I do not think apartments will rise because people will be reluctant to buy them in a sluggish market and may go for the 2-3 bed semi on its own site from the start rather than starting off in a 1-2 bd apartment which they may not be able to sell to upgrade as family size changes.

Many may fear not being able to increase their mortgage size if wages do not increase and job security can no longer be the certainty it once was. They may opt to wait until they can afford a house as their first purchase and be prepared to live in it for a long time if reselling becomes problematical.

Older houses may prove more popular than houses built during the boom (1997-2007) as these now have question marks over their structural and fire safety quality issues highlighted by the pyrites and fire safety issues and scandals in the media.

If I were to venture into the property market ever again I would enlist the services of a high quality surveyor and engineer to survey any house I was thinking of buying even if it cost me thousands. I'd insist on a full report and full indemnity insurance and if this could not be done, no deal.

As mentioned before nothing higher than 80% mortgage.

I would not go for anything longer than 20 yrs. Jobs and wages and health cannot be foreseen any longer than this.

I would not think about it if over 40 yrs of age, most job providers are reluctant to keep on or sustain jobs for over 60's and this trend will increase as pressure increases to employ young workers with high unemployment rates. Old people do not riot, break the law etc if left unemployed and will suffer as a result. Many older people are perceived as troublemakers and "difficult" in the workplace and will be squeezed out as a result, unless uncommonly talented and indispensable.

Most banks will not give mortgages to people over 45yrs anyway.

Blisterman

It says they rose one month. That doesn't prove anything. They also rose in may 2007, and look what happened.

http://ronanlyons.files.wordpress.com/2009/04/daft-report-blog1-2.jpg

Either way, if i was looking for unbiased advice on the issue, I wouldn't use the Irish Independent who earn thousands in advertising revenue from estate agents.

shedweller

space_man wrote: »

actually for cash buyers there's very good bargains to be had, especially bank repossessions.

(i would never advise someone to take out anything greater than a 80% mortgage in any case).

For cash buyers it is the best time ever to buy property. The rest of us can rent off them until they sell up in 20 years or so. Thats more or less how it panned out before.

gobnaitolunacy

FFS, what is it with the Irish property fetish?

http://www.youtube.com/watch?v=e4CtWb4tJBg

The Clown Man

It's inevitable that house prices will stabilise and maybe even rise for a bit since there is always demand for housing and next to no-one has bought in the last 3 years. Rents are artificially high because there is higher demand than should be normal.

3 years of new families have been waiting in queue and they are all just biting the bullet now, more out of necessity than low prices. People sitting on cash are speculating that rents are stable and there are good looking deals out there if that were to be the case.

These are enough to bring demand higher than supply for the short term but anyone who thinks that there is a REAL shortage of houses in Ireland is deluded. There is a HUGE backlog of properties that will be put on the market as soon as the banks/NAMA allow them to be sold.

No matter how long they try to draw this out they will still have to face up to the simple math at the end of the day.

The overall, albeit presently unavailable, supply is still multiples of the real demand.

Dead Cat Bounce in all it's glory.


Oh, and people are not going to listen to just anyone any more - far too many people horribly burned. If you are touting a return to rising prices you very definitely have a vested interest and thank god people now realise it.

Aidric

space_man wrote: »

i've been saying as much for the past 6 months.

Brendan? Your show is shít.

Son Of A Vidic

space_man wrote: »

people interested in buying need to act.

Hurry me arse, it's not the first time we heard that shyte advice.

space_man

Blisterman wrote: »

Either way, if i was looking for unbiased advice on the issue, I wouldn't use the Irish Independent who earn thousands in advertising revenue from estate agents.

as someone else has already pointed out, these are CSO figures not Indo ones.

desertcircus

Cody Pomeray wrote: »

People are getting so het up about the fact this story was published in the indo.

So what? The data comes from the Central Statistics Office.

It's also published in the Irish Times and other media. The story is legit.

No, the bare data is legit. Whether the data unambiguously supports the claim that the housing market is in recovery is a very different question. Given that we're running at less than a thousand mortgages a month in Ireland, a single large property could be responsible for the apparent rise. Not to mention the fact that the actual number of sales is a fraction of what it was last year.

space_man

Hownowcow wrote: »

I hoped we'd seen the last of that. I'd like to see houses being bought as homes again rather than as investments.

if one is to follow that logic, then people should never invest in stocks, shares or anything else for that matter because one has lost out before.
besides what's often forgotten is many people made plenty of money out of property.

Celly Smunt

I promise I won't blow money this time around.

Pyridine

space_man wrote: »

i've been saying as much for the past 6 months.
people interested in buying need to act.

http://www.independent.ie/irish-news/regional-property-prices-rising-29319535.html

Phew, just back. Got 2 1 bed flats..I mean apartments and 3 semi-d's for a steal.

Thanks for the heads up OP.

Now to transfer all the assets to my wife's name and default on the debt.

Hownowcow

space_man wrote: »

if one is to follow that logic, then people should never invest in stocks, shares or anything else for that matter because one has lost out before.
besides what's often forgotten is many people made plenty of money out of property.

What a strange logic you have.

I'll repeat what I said: "I hoped we'd seen the last of that. I'd like to see houses being bought as homes again rather than as investments."

I hoped we'd seen the last of that in respect of "a good time to invest" in houses. I never mentioned "stocks, shares or anything else". I am aware that many people made a lot of money on property. I am also aware that many people lost a lot of money on property.

My point was, and is, that I would like to see houses being bought as homes again rather than investments.

Birroc

Why would they be going up? Lets look at the so called "fundamentals"...
* Banks are not lending
* People's disposable income decreasing (e.g. property tax)
* Number of mortgages in distress going up and up
* Unemployment remains high
* No growth in the economy
* Emigration of young people (1st time buyers) very high. Non nationals also leaving in droves
* Lots of properties empty (was it 250,000 units nationwide last year?)
* NAMA ready to offload lots of cheap houses

tf19

space_man wrote: »

i've been saying as much for the past 6 months.
people interested in buying need to act.

http://www.independent.ie/irish-news/regional-property-prices-rising-29319535.html

So how many houses are you trying to flog before the 55,000 individual arrears resolution plans are to be offered by December of this year ?


It's long past the 10th of April for this kind of announcement.

lol, reminds me of Donnie Cassidy, on the first Donnie Cassidy day the 10th April 2008

Henceforth the 10th of April shall be always be known as Donnie Cassidy day . . . . .

"Now is the right time to buy. We have a duty to tell first-time house buyers, young couples with no previous experience, that there is unbelievable value in the marketplace today. It will not last forever. It is never the wrong time to do the right thing. I offer the House the benefit of my experience and my opinion which is all any Member can do. I will remind the House, perhaps in 12 or 18 months, when prices have again increased by 25% or 30%, that they were told this by the Leader of the House on this historic day, the tenth anniversary of the Good Friday Agreement."

The Right Honorable Senator Donnie Cassidy, on the first Donnie Cassidy day, the 10th April 2008

This video should be posted annually on 10th April . . . .

https://www.youtube.com/watch?v=7RaNqMzVIE0

copeyhagen

people that believe that there is no market the last few years are living in the clouds.

we bought last year and every house we viewed had a lot of people viewing and making offers.

its deffo a buyers market but house prices are not gonna go down much more, if at all.

Victor

Check out this graph - are we at a temporary modest increase or a sustained large one?

I would suggest it is a temporary modest increase.

Ush1

copeyhagen wrote: »

people that believe that there is no market the last few years are living in the clouds.

we bought last year and every house we viewed had a lot of people viewing and making offers.

its deffo a buyers market but house prices are not gonna go down much more, if at all.

Same here, bought at the end of last year and any houses that were priced decently were whipped up or at the very least under offer. Things are moving.

space_man

copeyhagen wrote: »

people that believe that there is no market the last few years are living in the clouds.

we bought last year and every house we viewed had a lot of people viewing and making offers.

its deffo a buyers market but house prices are not gonna go down much more, if at all.

there's a lot of pent-up demand.
we still have large numbers of well paid people wishing to settle here.
we continue to have a very high birth rate.
the property tax by comparison with other countries is quite low.
unemployment & emigration have peaked.
the economy is growing.
a large detached house in Leitrim aint much good to someone working in Dublin.

gurramok

copeyhagen wrote: »

people that believe that there is no market the last few years are living in the clouds.

we bought last year and every house we viewed had a lot of people viewing and making offers.

Ush1 wrote: »

Same here, bought at the end of last year and any houses that were priced decently were whipped up or at the very least under offer. Things are moving.

Ye bought last year to get the MIR.

gurramok

space_man wrote: »

there's a lot of pent-up demand.
we still have large numbers of well paid people wishing to settle here.
we continue to have a very high birth rate.
the property tax by comparison with other countries is quite low.
unemployment & emigration have peaked.
the economy is growing.
a large detached house in Leitrim aint much good to someone working in Dublin.

1 - How do you know there is pent-up demand?
2 - How do you know there are large numbers of well paid people wishing to settle here?
3 - Babies don't buy houses until maybe at least 25 years time.
4 - Its low indeed, buyers will want to haggle to price down to avert a higher rate of tax(band) per year in the future.
5 - Unemployment is offset by emigration and back to education schemes. The number of people aged 15-30 has declined by 120,000 since 2006. http://www.cso.ie/en/media/csoie/releasespublications/documents/population/2012/popmig_2012.pdf . There are another 83,000 on Activation programmes http://www.cso.ie/en/media/csoie/releasespublications/documents/latestheadlinefigures/lreg_feb2013.pdf
6 - The economy has stagnated. We need a Euro area pick up.
7 -True. Someone somewhere has a mortgage on it. Wait till we get the circa 100,000 in arrears out of the way.

donegal_road

space_man wrote: »

there's a lot of pent-up demand.
we still have large numbers of well paid people wishing to settle here.
we continue to have a very high birth rate.
the property tax by comparison with other countries is quite low.
unemployment & emigration have peaked.
the economy is growing.
a large detached house in Leitrim aint much good to someone working in Dublin.

wont be the case if Ireland is forced to change its corporation tax level.

Valetta

Birroc wrote: »

Why would they be going up? Lets look at the so called "fundamentals"...
* Banks are not lending
Yes they are. I know several people who have obtained mortgages recently.
* People's disposable income decreasing (e.g. property tax)
Probably agree with this, although the LPT would have minimal, if any effect on house values.
* Number of mortgages in distress going up and up
Don't think this will have any effect on prices, as there are practically no houses being built, so the supply is constant and distressed mortgages won't affect demand.
* Unemployment remains high
It's on the way down, so if anything will have an upward effect on house prices.
* No growth in the economy
Yes there is.
* Emigration of young people (1st time buyers) very high. Non nationals also leaving in droves
Seems to have levelled off.
* Lots of properties empty (was it 250,000 units nationwide last year?)
These are mostly properties in remote locations that will never sell and will probably end up being demolished.
* NAMA ready to offload lots of cheap houses
NAMA are too wise to do that.

Answered above.

Idbatterim

Alison O'Riordan will be out of negative equity in no time at this rate! hell shell be able to give away the 50k parking space...

take everything

ACTUALLY or actually.

Is there any real difference.

Cuddlesworth

Come back to me when we don't have the worst mortgage arrears in Europe. There is a reason we don't have a functioning market at the moment.