Property Market 2020

schmittel wrote:

Agreed. It's kind of annoying that they don't do more analysis on asking vs sales prices - you'd think it would be fairly straightforward for them given their site publishes both.

JamesMason wrote: »

Is there any recent data on mortgage approvals post CoVid? If approvals drop off a cliff surely there is your answer.

JamesMason wrote: »

Thanks again. Is this published monthly? If so, June should be interesting to say the least

JamesMason wrote:

Is there any recent data on mortgage approvals post CoVid? If approvals drop off a cliff surely there is your answer.

Markitron wrote: »

People gonna be checking the PPR like its Livescore soon enough

But, there are also a rash of significant downsides to allowing a home shortage to prevail - by failing to enable/persuade banks to lend to buyers or builders, by failure to move the local authorities to more realistic planning and levy policies and by failing to persuade Nama to release land and properties to the market to enable development.
(a) Homelessness is surging, based on the accommodation shortage and resulting fast-rising rents.
(b) The construction industry's paralysis has an opportunity cost of tens of thousands of jobs in that sector attached, not to mention the tranche of spin-off jobs that a normal construction activity would support.
(c) Consumer spending is being hit and therefore, there is a risk to other jobs caused by fast-rising house prices because those who are forced to pay more in rent or for a mortgage, spend less in restaurants, pubs and shops.
(d) The fast-increasing cost of accommodation is also a major problem for FDI companies who must continue to be successful in attracting a workforce to Ireland. Accommodation affordability is high on the travelling FDI employee's list of concerns.
(e) Finally, there is the growing risk of another property price spill in the future.
This is because the accommodation shortage which is causing rapid price rises is just as artifical as the credit splash which caused the last bubble.
Cash buyers, who are still acquiring around half of the properties sold in the cities, present another "artificial" stimulant to prices while zombie banks, which won't lend to buyers and builders, are as unnatural as the cash splashing versions who showered them with unwarranted loans during the boom.......
.......Mr Noonan has said there is nothing to worry about because prices are still 47pc below peak. But such historically distorted prices are the worst tape measures.
Alternatively, an international affordability index long ago estimated that Dublin prices had moved into the "moderately unaffordable" category. The economies of Dublin, Cork, and Galway, are resurgent but they do not justify 1% to 3% per month price inflation.
Mr Noonan and his Government's policy is a double-edged sword that cuts both ways. Let's hope it doesn't swing too far in the wrong direction.

Hubertj wrote: »

So are people intentionally or mistakenly “interpreting” the report to suit their own agenda?

Either, what will really matter over next 12 months is what prices, if any, properties achieve, how many come on market, how long they are on market for, We’re they on market pre-Covid, were there price decreases pre Covid etc.

JimmyVik wrote: »

This is good.

https://www.youtube.com/watch?v=bVG2OQp6jEQ

wassie wrote: »

I think the point is not that statistics are being misinterpreted or deliberately used to form a persuasive argument, but rather that they feed into people's own confirmation bias to 'suit their own agenda' as HurbertJ puts it.

Bass Reeves wrote: »

Hibernian is a PLC. It has to give regular and true business updates. So a synopsis of it statement.

Commercial rents are 90% of it rental business 3.5% is deferred from Q2 to be paid this month and 1% is unpaid. It also stated it noticed footfall increasing back into its commercial office spaces.On Residential properties which only make up 10% of its contracted rents it has collected 95% of rents due.

This indicates that rents are being paid at present.