Best guess

newbie2013

Looking at house throughout the country on daft, ive started to notice that there is quite a few that is jumping out of the red and into the green. anyone who knows daft will know that the red beside the house sale is how much a house has dropped in recent years and green is how much the price has rose.

Im sitting here thinking that these vendors are reading into these house rise prices in dublin and expect this trend to follow throughout the country. Now anyone with an ounce of sense will know that house prices wont be rising throughout the country for a while yet which brings me on to my question.

I know this would a best guess at most, well IMO anyway but how long are we away from seeing a housing market back to normal where house prices is on the rise country wide. Now i dont mean, back to the crazy days we had in the boom. More like rises in small percentages nation wide. Would 3 years be unrealistic, 5 years maybe or even a decade or 2.

Nino Brown

I think house prices will start to rise all over the country as early as next year, but when the money printing (by the Fed) stops, they'll start falling again.

newbie2013

Nino Brown wrote: »

I think house prices will start to rise all over the country as early as next year, but when the money printing (by the Fed) stops, they'll start falling again.

When will that be thou

Nino Brown

newbie2013 wrote: »

When will that be thou

I don't know to be honest, but my opinion is you shouldn't touch property with a barge pole unless you can pay cash, avoid a mortgage at all costs. Interest rates have to go up, and that will put major downward pressure on prices.

newbie2013

Nino Brown wrote: »

I don't know to be honest, but my opinion is you shouldn't touch property with a barge pole unless you can pay cash, avoid a mortgage at all costs. Interest rates have to go up, and that will put major downward pressure on prices.

I have no worries, im living in a mortgage free house. Would never touch a mortgage with a bargepole

Nino Brown

newbie2013 wrote: »

I have no worries, im living in a mortgage free house. Would never touch a mortgage with a bargepole

I think there is probably some value in cash buys assuming you're considering buying, been looking at it myself lately, a 3 bed house down the country for 50K has pretty minimal downside potential.

moxin

You'll need an industry recovery(not frigging property) in the country side first before there is any price rises and the vacant stock soaked up first. Yes you are right that the media is trying to entice the "feelgood" factor into house prices often unjustifiably.

Don't worry, even in Dublin there are good areas still in decline just as there are areas on the rise. Its so uneven all over.

The_Conductor

Price rises in Dublin have been falling month on month- on current trends, the increases in Dublin prices will bottom out / flatline within 3 months. The issue is people want to buy in specific areas, where there is lack of supply, and sale prices have been dictated by cash buyers in the main (as credit rules are being rigorously applied by those supplying mortgages).

So- its entirely possible that the current Dublin related increases in prices will flatline within around 3 months- what this means for the rest of the country is anyone's guess, as it would appear that vendors are irrationally exuberant at the moment- I'm guessing there will be a long lead in into people copping that the Dublin prices are/were a flash in the pan- and until fundamentals change, there is not going to be a functioning market.

We need a functioning banking system before we can have a functioning housing market. There is not the political will to invest another 30 billion in the banks- so we have the morass we're in, which is unlikely to get resolved anytime soon, new laws on reposessions nothwithstanding.