Another Daft.ie Report....

TheDriver

http://www.rte.ie/news/2015/0105/670346-property-prices/

So a fall is now reported and attributed to the new rules. But I thought the new rules are only now and we should have actually seen a rise in the last few months as people rush to buy while they could get a mortgage??

Eldarion

TheDriver wrote: »

http://www.rte.ie/news/2015/0105/670346-property-prices/

So a fall is now reported and attributed to the new rules. But I thought the new rules are only now and we should have actually seen a rise in the last few months as people rush to buy while they could get a mortgage??

It will always be very difficult to judge the market impact of something as uncertain as these proposed changes. You could argue that sellers are accepting slightly lower prices now in anticipation of not being able to sell at that level 6 months or a year from now.

Or maybe prospective buyers anticipate prices to fall so much in the near future that they'd rather sit tight and not make the plunge.

We also won't really know for certain the true state of the market during this period until we're looking back from a few months from now.

Michael D Not Higgins

I don't think anything can be gleaned from end of year sales figures. If you look at the trend of the graphs on daft, you'll see a slump in the number of sales coming up to Christmas (because who wants the hassle of buying a house and moving over Christmas?). That slump can show trends that may not even be there due to the lower volume.

The real test will be the actual sales when the rules are in force and we can get some proper figures.

AfterHrsProp

TheDriver wrote: »

http://www.rte.ie/news/2015/0105/670346-property-prices/

So a fall is now reported and attributed to the new rules. But I thought the new rules are only now and we should have actually seen a rise in the last few months as people rush to buy while they could get a mortgage??

The operative word here is asking price, I wouldnt pay too much attention to these figures

johnp001

The changes in supply (up 33% on a year ago), sentiment (much lower expectations for future) and lower asking prices as described in the DAFT report together with the marginal sale price decreases from the last CSO report would all tie together to indicate that the trajectory of the market has changed.
This link: Prepare for Property Prices to Fall in Ireland and Globally also made interesting reading

Also, asking prices would be a leading indicator of future selling prices.

yankinlk

johnp001 wrote: »

The changes in supply (up 33% on a year ago), sentiment (much lower expectations for future) and lower asking prices as described in the DAFT report together with the marginal sale price decreases from the last CSO report would all tie together to indicate that the trajectory of the market has changed.
This link: Prepare for Property Prices to Fall in Ireland and Globally also made interesting reading

Also, asking prices would be a leading indicator of future selling prices.

so i should buy gold then? thats what those guys want u to do. i liked the disclaimer...

Goldcore Limited is regulated by the Central Bank of Ireland. Please note however the provision of precious metal product or service does not require licensing, authorisation, or registration with the Irish Central Bank and, as a result, it is not covered by the Irish Central Bank’s requirements designed to protect consumers or by a statutory compensation scheme. GoldCore Limited trading as GoldCore is registered in the Companies Registration Office under Company number 377252.

johnp001

yankinlk wrote: »

so i should buy gold then? thats what those guys want u to do. i liked the disclaimer...

Goldcore Limited is regulated by the Central Bank of Ireland. Please note however the provision of precious metal product or service does not require licensing, authorisation, or registration with the Irish Central Bank and, as a result, it is not covered by the Irish Central Bank’s requirements designed to protect consumers or by a statutory compensation scheme. GoldCore Limited trading as GoldCore is registered in the Companies Registration Office under Company number 377252.

I would take the editorialising and comment in that article with the exactly the same degree of scepticism that I read the widely reported "Sherry Fitzgerald predict house prices to keep rising" articles but I thought it was interesting to frame the Irish market in an international context.