I am a FTB, cash ready, but still very nervous about the market!
Someone mentioned the only sales are now to FTBs, with FTB low mortgage deals etc. Is there a chance the govt will re-introduce some sort of FTB stamp duty in the mini budget?? If so, should I jump now and try to close a deal before the budget?
Can’t see it happening myself. The mantra is still “return activity to the housing market”. When they start saying “who gives a flying fuck about the housing market”, that is the time to worry, or it would be if we weren’t all buying ice skates for the journey to hell…
I doubt the government will do this as it will put another nail in the coffin for the property maket. There won’t be any sales and people will not buy until they know what is exactly going on with this government
Rest assured that An Taoiseach Tom Parlor would not contemplate moving against the saintly meek innocent First Time Buyers who are the lifeblood of our terminally ill property bubble ponzi scheme, i mean economy.
And don’t forget there is about €70 million billion in VAT currently tied up in unaffordable affordable shoeboxes and half finished ghost estates, that we need to extract from the young wage slaves, i mean release to the exchequer so he can satisfy Bono’s public spending programs.
There is no chance in my opinion of stamp duty being brought back for first time buyers.
Out of curiosity (if you dont minD), are you planning to but a house or an apartment.
In my job I meet builders and developers every day.
Today I was told that the armageddon that is coming down the tracks will see apartments going for 50k and traditioanAl 3 bed semis in nice ares going for 200k. He reckons that they will stay at that for 10 years.
If you are getting a traditional 3 bed house with its own front and back garden for reasonable money, you may be doing okay. I would stay clear of all high desity stuff.
The pension levy will affect the market
The mini budget will affect the market
The rising unemployment will affect the market
The normal budget later in the year will affect the market
As others have said,i would fully expect carnage within 12 months, it’s not nice but that’s the way i see it.I’m looking at a house valued €650,000 atm i would fully expect the same house to be somewhere between €400,000 and €500,000 by the end of the year.