Irish Property Market chat II - *read mod note post #1 before posting*

I’m not alluding to ‘last in, first out’….I was just pointing out it is a reduction on head count which can be from natural wastage of not renewing contracts and redundancy.

But those are never part of the figure. Companies regularly don't renew fixed term contracts, why would they want to call out them out unnecessarily. I have seen people being benched and let their contract run out.

Redundancy is based on a role and not an individual. It might be the case that older people were on a older role which was higher paid and they made these roles redundant

You can see the effect of rising IR's on the US housing market.

https://twitter.com/KobeissiLetter/status/1616454482224885761

And reports are also saying the government has been informed of many more upcoming MNC layoffs than have been formally announced yet.

Putting some of the tax windfall into the ‘rainy day fund’ will be what they may try and fall back on if the proverbial hits the fan and questions are asked about why they didn’t fix the roof while the sun was shining. I think I’m out of metaphors…

Don't want this thread to become political, but at this rate.. why would anyone take a single word they say as gospel ? The gov have been spewing passing commentary on a lot of the issues lately, while single handedly being responsible for it. Either way I would take anything they come out with as a grain of salt.

As a person who bought a house just before the last crash, I know the pain. Gov leaders, Economic pundits etc never saw the 2008 crash coming or any other previous crash.. why would it be different this time ? Simply put nobody knows what will happen, time will tell. All we can then do is look back retrospectively and see signs that we missed.

huge number of coffee shops, restaurants closing as well all over the country, small business costs are currently just unsustainably high, we have't seen anything yet

Gothic home in kilkenny with recording studio on over 6 acres 975k.

While in Wicklow pretty non descriptive houses looking for 2.8 Mill. I remember someone put a link few days ago.

Market outside Dublin definitely has gone down in price.

looks like lenders are understandbly getting rattled by wave of tech layoffs here

Irish mortgage lenders seek assurances from tech employers amid sector layoffs

Bank of Ireland and other lenders want ‘letters of comfort’ 

Discussing moderation on thread is against site rules. The other thread was closed as it was being used to avoid threadbans from this one, nothing else.

more rate rises for february, march, may, june on the way - not sure how many would be buyers will keep up with this more than likely leading to drop in demand or significant drop in affordability leading to lower bids for houses later this year:

ECB set to raise rates by 50 basis points in February and March, Knot says

"Expect us to raise rates by 0.5% in February and March and expect us to not be done by then and that more steps will follow in May and June," Knot said.

one of the main lenders here already projecting some sort of slowdown

Avant Money parent expects mortgage demand slowdown

a spokeswoman for Avant Money said the pace of growth for new mortgages had moderated due to increases in pricing driven by European Central Bank rate changes.

Avant are a non-bank lender, they can't compete with the banks on rates which is why they are predicting a slow down in their own business.

They were offering 20 year mortgages fixed at 2% not so long ago, way better than the bank lenders.

The market could well slow down though, another big factor is that people on existing fixed mortgages like those are not going to sell/move to end up on a mortgage on a new property at 4%. They will just wait to upsize if they think rates will come back down in a year or two.