DNG boss believes 2012 “will be turning point in the market"

Full DNG report: dng.ie/pdf/DNGReview2011Outlook20121.PDF


It’s always darkest before it goes completely black.

Nah at this stage it is more like :laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing:

In a normal circumstances, the property market has has limited impact on the economy, and certianly none on recovery. GDP is measured by the sum of 4 components;

  • Consumer Spending
  • Capital Investment
  • Government Spending
  • Balance of exports over imports

What impact the property market exerts is not included in Comsumer Spending, but rather under the Capital Investment proportion (so it is the initial construction of the building, rather than its first or subsequent sale, that gets counted).

Blue Horseshoe

I am constantly amazed at macro-level statements by estate agents on property price falls - in the past few weeks, there have been reports from Sherry Fitzgerald, sunday Times, DNG and others all with essentially the same message - that are contradicted by micro-level behaviour from the same estate agents regarding the asking prices for houses they are selling. Prices are falling but the asking prices for individual houses are not.

Prices have dropped 60+ %. Prices dropped significantly in 20111. Prices are continuing to drop in 2012. The asking prices of individual houses are not.


Sherry Fitz don’t seem to be quite so upbeat in their 2011 report. A lot of whingeing regarding lack of bank lending to potential punters.

sherryfitzgerald.briefyourmarket … brandId=15

I’m fairly confident that the people predicting the End Of the World in 2012, due to their misunderstanding the Mayan Calendar, are much more likely to be correct than this gobshite :unamused:

In fairness, the market conditions could turn from a slow lingering death over a decade into a sudden precipitous cardiac arrest of a collapse. If we’re dumped from the euro in 2012, DNG could finally get to put a tick in the ‘correct’ column after years of ticking the ‘incorrect’ column.

At least causation & correlation is part of project & leaving cert maths now, I believe.

What we need in this country is really really expensive bread.

Understanding the underlying fundamentals of bread value will make us all rich. Bread has been under priced for too long and it’s true value has been suppressed by an all too common (communist?) view that it is a ‘staple’. Once we realise the value of trading bread we can pass it back and forth between us, generating more and more money as we do so. That’s how you generate ‘economic growth’ as they call it at the fancy parties. We can then use our new found wealth to feed the economy further by getting fancy haircuts and buying coffee and, you know, doing spendy stuff. Before we know it we’ll be fighting each other to own the most expensive bread in the land and the economy won’t know itself.

  • darwi

My kids ‘believe’ in Santa Claus…