Irish House Prices in May

Down 0.8% in May
Down 2.1% in first 5 months of this year
Annualised house price inflation falls to 2.6% from 5.1%

These are headlines from Bloomberg. No source quoted yet.

rte.ie/business/2007/0629/houses.html

Confirmed.

Can anybody pull up one of them articles from comical or one of his gang from earlier in the year where they were predicting a soft landing with average prices rising by 2-3% in line with inflation.

Just saw that on Aertel page 131, also average price paid by first time buyers down 1.8% in May

I wonder when paddypower are going to pay out on the HP to drop bet… :laughing:

Finfacts have a good break down;

finfacts.com/irelandbusiness … 0475.shtml

Here is some of comical predictions for 2007

In the build up to Budget 2007 a key uncertainty related to measures that might affect the housing market. Our central view has been that a healthy housing market is a natural consequence of a strong economy. Our judgment is that Budget 2007 will sustain strong economic growth and a healthy rise in employment. On this basis, we expect the Irish property market to perform relatively well in the coming year. As Graph 5 suggests, we expect the recent softening in price growth to persist in the near term but to stabilize at a healthy single digit pace of increase in 2007.

Source:

finfacts.com/irelandbusiness … 8373.shtml

I take it by this he was tipping a nice growth rate of about 5% which could be considered a nice soft landing.

Naturally the spin is homing in on SD uncertainty during the election.

I got my money down at ladbrokes. I’m going to have to wait another 7 months but it was a tasty 4/1 :smiley:

I got 5/2 off PP but they limited me to a €50 stake… :imp:

Spot the trend
In January of 2007 prices nationally increased by 0.1%:slight_smile: compared to January growth of 1.2% in 2006. :smiley:
In the first two months of 2007 prices nationally increased by 0.1%, :confused: compared to January growth of 2.2% in 2006. :smiley:
In the first three months of 2007 prices nationally decreased by 0.5%, :open_mouth: compared to first quarter growth of 3.5% in 2006. :smiley:
In the first four months of 2007 prices nationally decreased by 1.3%, :frowning: compared to first four months growth of 5.0% in 2006. :smiley:
In the first five months of 2007 prices nationally decreased by 2.1%, :angry: compared to first five months growth of 6.7% in 2006. :laughing:

what happened to the stats that said that property was rising by 10% in the first 3 months of 2006? i believe that the touted price rises were what a few stragglers willing to pay over the odds for a gaf.

beware the 2006 stats, they’re adjusting them down to make the 07 price drops seem insignificant.

The spin being peddled by the EAs/VIs is that it’s now a good time to buy because prices are falling - obviously trying to start a stampede of buyers to halt the slide. No doubt we’ll hear “get in while you can” stories soon.

Beware! :slight_smile:

How have they adjusted them down?

I think its called fabricaiotn of the truth.

Yeah I thought that too, the HPI for the start of 06 seemed very low. Correct me if I am wrong but I had a figure of 26% surge at the start of 06 and then BANG it jsut floored.

Shall we go back a little in this thread :slight_smile: only 1904 post to read over :open_mouth:

All throughout 2006 the EA, VI’s, media were reporting 15% increases in house prices. In 2007 they’re saying that price prices only rose by ~4% in 2006.

In regards to the EA saying thatits a good time to buy, it might be, however it aint for investors because the prices are tumbling. It will be interesting to see how much money is being borrowed that is secured on equity, I doubt people will be doing that in a market of price decreases.

So now it’s being shouted over the airwaves that average house prices are falling by 2500 euros per month.
That’s equivalent to 575 euros per week.
That’s more than a heck of a lot of people earn in a week before tax and more than a massive amount earn in a week after tax.
So this is supposed to be our soft landing is it? :open_mouth:
When potential buyers look at it in this light they will conclude that purchasing now would be madness when prices are plummeting faster than their weekly take home pay.

These peoples houses are working harder than they are,exept now its in the opposite direction.

https://www.arandomwalk.com/wp-content/uploads/2007/06/ptsbesri.png