Another month of positive property price growth.

goodie2shoes · 29-12-2012 06:16PM #1

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

Praetorian Saighdiuir · 29-12-2012 06:18PM

LOL

Did we suddenly all get rich "again"?

I must tell my accountant

Boombastic · 29-12-2012 06:18PM

Houses make good Christmas presents

Gummy Panda · 29-12-2012 06:18PM

Why not post in the correct forum then?

galwayrush · 29-12-2012 06:19PM

Just looked in my wallet, nope, no recovery yet.

donvito99 · 29-12-2012 06:20PM

Money is pouring down my chimney! Let the good times roll!

galwayrush · 29-12-2012 06:21PM

donvito99 wrote: »

Money is pouring down my chimney! Let the good times roll!

Ahh, so that's where i went wrong, i was short of money when i was building and didn't put a chimney in.:mad:

leonidas83 · 29-12-2012 06:22PM

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

Unfortunately its false hope. The main reason why prices have been rising again in recent months is because people are trying to get on the property ladder before the cut off for the mortgage interest relief which ends in two days time. Expect more decreases in the new year when this is gone.

squod · 29-12-2012 06:23PM

*Runs off to buy two bed appt in Roscommon Tallagh*

mikemac1 · 29-12-2012 06:23PM

leonidas83 wrote: »

The main reason why prices have been rising again in recent months is because people are trying to get on the property ladder before the cut off for the mortgage interest relief which ends in two days time. Expect more decreases in the new year when this is gone.

+1

Came here to post that

There are lots and lots of threads on boards.ie about buyers looking to complete before the deadline

theteal · 29-12-2012 06:23PM

This news was out several days ago, I'm actually shocked this OP didn't post sooner. Yawn.

Mr Benevolent · 29-12-2012 06:27PM

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

Are you seriously gullible enough to believe what you read in the Independent?

BBDBB · 29-12-2012 06:27PM

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html[/QUOTE]

From the article you quote

"Economists said it was too early to conclude that prices would now keep rising, but most agreed values may have at least stopped falling. "

secondly, price of property is only one indicator, number of transactions is arguably the more significant figure in recovery terms

thirdly and of least importance there is often a significant difference between the price a property is marketed at and the price it actually sells for, at a glance I didnt see that distinction made in the article though I may have missed it as Im watching rugby

bijapos · 29-12-2012 06:31PM

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

goodie2shoes · 29-12-2012 06:33PM

mikemac1 wrote: »

+1

Came here to post that

There are lots and lots of threads on boards.ie about buyers looking to complete before the deadline

funny there was lots of people saying the tax relief scheme was a con, and would have no effect on the market.
now those same people are telling us the market will fall again once it ends. seems they change their story to fit the facts?

i suppose even a broken clock gets the time right ............:D

Boombastic · 29-12-2012 06:36PM

goodie2shoes wrote: »

.......................

i suppose even a broken clock gets the time right ............:D

pot meet kettle:pac:

goodie2shoes · 29-12-2012 06:42PM

bijapos wrote: »

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

i disagree totally.
a return to positive sustainable (not the speculative bubble we had btw!) property price growth would have a hugely beneficial effect on the domestic market/economy.
people would feel better-off and would resume spending more money, thereby having a positive spin-off for shops, restaurants, taxes, jobs.
you clearly have no idea how the real economy actually works.

MrPoker · 29-12-2012 06:44PM

bijapos wrote: »

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

Very true. The market is still artificially propped up imo. There is a unhealthy obsession with property in this country. Rental prices around Dublin are also ridiculous. Don't believe the propaganda being spewed in the Indo. It is no absolutely no benefit to the economy for property prices to rise whatsoever. This will further cripple the domestic economy. Cheap credit will not be as freely available again also.

venividi · 29-12-2012 06:45PM

bijapos wrote: »

One of the worst things that will ever happen is if house prices rise again. High house prices benefit next to nobody. Most of those people selling in an inflated market will buy another property at an inflated price thus having no benefit in real terms.

On the other hand, consider the benefits of low house prices: essentially the biggest one is lower mortgages. Having a lower mortgage means having more disposable income left over at the end of the month. This disposable income tends to be saved and/or spent. Higher spending, be it in pubs, restaurants, cinema, shops etc etc leads to job creation in other sectors, most notably service industries.

So IMO "low"* house prices are a good thing. By low here I mean affordable, like prices were 12-15 years ago, people had affordable mortgages and plenty of disposable income to boot.

High house prices benefit very few people, affordable prices benefit many.

Couldn't agree more. In addition unsustainable house price increases lead to unsustainable wage increases a loss of competiveness. Modest increases in house prices ok & obviously good for confidence

housetypeb · 29-12-2012 06:52PM

How soon before we can release equity to buy a new car etc????

Dr. Greenthumb · 29-12-2012 06:56PM

goodie2shoes wrote: »

i disagree totally.
a return to positive sustainable (not the speculative bubble we had btw!) property price growth would have a hugely beneficial effect on the domestic market/economy.
people would feel better-off and would resume spending more money, thereby having a positive spin-off for shops, restaurants, taxes, jobs.
you clearly have no idea how the real economy actually works.

Considering the levels of negative equity in this country that will require a significant rise in house prices and a runaway property market is what got us here in the first place.

What you would like to see is enough of an increase that people would be willing to sell (taking an affordable hit on their negative equity) to other people who would then be taking out unaffordable mortgages.

The problem in Ireland isn't that house prices are undervalued at the moment but more like they were hugely over valued during the boom, all driven by people with a warped view on economics like you.

There is more to a sustainable economy than "if we spend money we will generate money... somehow".

3ndahalfof6 · 29-12-2012 07:07PM

So house prices go up by fiddy pee and all is forgiven, I don't fooking think so.

latenia · 29-12-2012 07:13PM

goodie2shoes wrote: »

i disagree totally.
a return to positive sustainable (not the speculative bubble we had btw!) property price growth would have a hugely beneficial effect on the domestic market/economy.
people would feel better-off and would resume spending more money, thereby having a positive spin-off for shops, restaurants, taxes, jobs.
you clearly have no idea how the real economy actually works.

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

spikethedog · 29-12-2012 07:13PM

goodie2shoes wrote: »

Yet more evidence that the housing market is in full recovery.
i've been saying as much for the past few months, but many posters here just do not want to countenance such, and have i've been strongly cricicized for even suggesting as much.

4 out of the past 5 months have now seen increases!
In fact, November's rise in the capital is higher than the typical monthly increase during the boom years, when prices rose at between 1.2pc and 2pc per month.

What say you now fellow boardies?

http://www.independent.ie/national-news/rise-in-home-prices-sparks-hopes-of-recovery-3338359.html

It's a sign that we've reached the bottom and shows some tentative signs of recovery.
Hopefully the rest of the economy follows.

spikethedog · 29-12-2012 07:16PM

latenia wrote: »

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

What in the name of God are you on about?

TwoShedsJackson · 29-12-2012 07:19PM

latenia wrote: »

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

He's a landlord.

BBDBB · 29-12-2012 07:28PM

latenia wrote: »

I know I'll get a ban but it has to be said-you are a complete moron. Explain how taking money away from house buyers and giving it owners will increase the amount of money in the economy. Seriously. Explain it to me.

Pity, it was a fair question you asked

It wont change the amount of money in the economy but it will start to redistribute it which is good news

people who buy houses spend money on a whole raft of new stuff to furnish their new house such as carpets, curtains, sofas, garden equipment, DIY equipment and materials for decorating and renovations. They buy those things at shops who start to hit targets, the owners of which start to invest in the future rather than holding onto what they have and making cuts.

people who sell houses often need to buy somewhere to live (excluding those who die, move abroad or into alternative accomodation) again they spend money etc etc

but that still doesnt mean that the above news means that a recovery has started, its a good sign, but its fragile and the future is still not certain

Big Bottom · 29-12-2012 07:46PM

I'm sorry but anyone who was foolish enough to buy an apartment deserves to be in huge debt there was no excuse.

gurramok · 29-12-2012 08:10PM

Indo- bastion of facts and truth :rolleyes: Damn, I missed the boat by not buying, when does the next boat sail

:rolleyes:

Mr Benevolent · 29-12-2012 08:25PM

Meh, OP is a notorious property shill on Boards.

humbert · 29-12-2012 08:32PM

Take it you're still banned from the Accommodation and Property forum then?

Another month of positive property price growth.

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