Many parts of Ireland are still very cheap compared to the boom era. Dublin has now gone completely mad again. I have seen boom like prices in many part for near on two years now. Some asking in excess of the boom. I appreciate overall prices in Dublin are lower but that’s not to say pockets are not very frothy now. Too many jobs not enough gaffs - it’s that simple. How long can the rosy job situation last?
I suppose most bears hadn’t anticipated how Fine Gael would set every economic and social policy towards forcing up property prices, but thankfully everyone has learned that lesson now. Another generation will be thrown into the furnace as long as it keeps the lights on.
CSO have initial Census 2016 data out this Thursday 11am following by Housing in Ireland on Apr 20th
The property racket makes for a dysfunctional and highly inequitable economy, nothing good will come of it. We are small Island with lots of land capacity, insane that as a society this is what we stand for. I can’t see it changing anytime soon. For a while, from 2010-2013 I thought some real change might occur but now I am forced to drink wearily from the trough of disillusionment.
It was always 1% hydrogen peroxide solution in borax powder Coles.
I’m interested in the changing religious mix.
Got to wait until October.
The big eye opener will be Renters 2016 vs Renters 2011 and probably way back to the 1960s to find the likes Mr A.
The depressing thing is how willingly they throw themselves into the furnace. They prefer to queue outside a new development with their deposits than to queue outside Leinster House with pitchforks and torches.
I don’t think it’s a willingness to throw themselves into the fire. In 2005, for sure, people were positively daft when it came to making property purchase decisions. However I think these days, for the most part, people are weighing up a bad situation. The rental market is abysmal for families so if paying a mortgage is cheaper than renting then it’s an attractive option, if you can afford it. I think a lot of properties are being bought with help from parental support, tax payer support (HTB scheme) and fairly tight lending restrictions from the banks (comparing them to the boom era).
You are right of course; we should be down at Leinster house with pitchforks. I think most people at this stage are thoroughly jaded with Irish politics. Defeatist as that might sound, you could eject the existing mob but then who replaces them? Most people are resigned to looking after their own interests in what it is a naturally beautiful, but horribly corrupt little country. The idea that you pay your taxes and reap the benefits or that politcis is a means to a positive end is one that can only be greeted with rye cynicism, at best.
Not sure anyone could be as naive as this. Maybe they though the potential to influence the property market was limited by the colossal mess left by FF.
I actually think it could be worse. For instance, they could be trying to force the central bank to relax income multiplier rules. Expect to see that in someone’s campaigning in the next election. I’m no fan of FG, but it could always be worse.
5 Years off the bottom now. Half the entire lifetime of the Pin
Given the ongoing chronic shortage of building in the key cities of Dublin Cork and Galway I don’t think even a Hard Brexit will knock the steam out of this one, not before 2020 anyway.
Best investment advice I ever got.
He is far too modest to point it out himself but today is the six-year anniversary of 2pack correctly calling the bottom!
Question is, is now the time to call the top (in the major city)
Thanks again 2pack,you absolutely nailed it.
Cleaned up big time.
Shark Trager aka Jimmy Connors aka Rimbaud.
Interesting article in the Indo -Revealed: Urban homes are becoming too expensive to sell as families struggle for finance says that prices of three bed semis in Lucan fell a little in the last three months due to the availability of new housing.
If memory serves wasn’t Lucan the first place to register price falls back in 2006/7?, the proverbial canary perhaps. Maybe early days to be calling the top but it feels like we are getting close again.
Stop talking down the economy, Longtermrenter!
When I back for a short time in 2015 I picked up some work locally in the south east in the planning phase of development, but the company I worked for were being snowed under by jobs in Dublin. I reckon these developments (mostly apartments) are only hitting the market now.
Whenever I feel dumb for not buying property six years ago I just think about how much bitcoin I could have bought six years ago.
Then I soon forget about irish property…