Thank God its Over - House Prices on the Rise

Well Pinsters, it appears Ireland really is different. House prices are on the way back up*. Get on the ladder while you still can!

irishexaminer.com/business/d … 17037.html

Headline

Sample size

*based on a statistically insignificent sample of properties

:unamused:

Tenous is stretching it.

Still, cant wait to phone home - I’ll not be surprised by how many this suckers in.

I said this a few weeks ago, I think there is a half chance that the ESRI quarterly will show a rise in prices in some areas.

:open_mouth:

Not exactly

There we have it. More supply => higher prices. Now all I have to do is wait for petrol to come tumbling down. :unamused:

Considering the headline is “Dublin Prices ‘on the rise’”, and the article only deals with Dublin 18 and 6 I think this is willfully misleading journalism.

MyHat! Enough said… And the Examiner!

A tragicomedy mix of all that is false and spin in Irish media and journalism.

Mad as a box of frogs!

April 7th - Dublin, Cork, Galway price update – March
myhat.ie/blog/?p=775

3-bed properties: advertised price changes Market Average asking price + % fall for March 2010 March 2009 average asking price & Percentage drop in 12 months Dublin €350,449 ▼ 0.7% €422,829= 17.1 per cent ▼ Cork €246,109 ▼ 3.1% €309,487= 20.5 per cent ▼ Galway €251,875 ▼ 1.2% €287,554= 12.4 per cent ▼

2-bed apartments: advertised price changes Market Average asking price & % drop for Mar 2010 Mar 2009 average asking price & Percentage drop in 12 months Dublin €283,794 ▼2.1% €349,736= 19 per cent▼ Cork €247,597 ▼0.6% €297,242= 17 per cent▼ Galway €235,552 ▼2.1% €277,078= 15 per cent▼

April 13th - Price increases seen in particular property types
myhat.ie/blog/?p=792

Oh, and by the way, in case you think they were cogging the other guy’s homework:

April 13th - Examiner article clarification
myhat.ie/blog/?p=789

People read it, word spreads, and it serves to slow down the inevitable.

:open_mouth:

That’s rather like noting that a few troopers in the Light Brigade managed to reach the Russian guns…

Sound familiar?

March 2009: MyHat.ie: Dublin prices up

Seriously, though, what causes these blips? When prices are slumping everywhere and there’s no obvious sign of economic recovery (or even non-obvious ones), why do people start bidding up prices? I’m genuinely confused.

That’s 3 per month,
Dublin 18 is is quite a big area and includes Cabinteely, Carrickmines,
Foxrock, Kilternan, Sandyford, Ticknock, Stepaside, Leopardstown and more,
it probably has a population similar to Galway city.
3 per month F*** me, I’d better get down to the bank quick before lunch and get a 35 year mortgage.

Lord save us from ourselves.

420,000 3bed,1 bath only 33 times yearly rent €1050.
With prices on the rise I can easily see it being worth yearly rent x 40.

2 Sandyford Hall Grove, Dublin,18.
https://mediacache-s3eu.daft.ie/pZbQ1LwUuRceN09w5SVsw0GjEYKFhtsyc5C9UKL-LoVtPWRhZnQmZT00MDB4MzAw.jpg
daft.ie/1498824

You’ll remain confused so long as you try to find rational explanations for the Irish property market. Irish people are not particularly rational when it comes to financial matters in general and are definitely not rational when it comes to property. It makes for a dangerous combination.

Why do asking prices increase? Because sellers have an inflated view of what their property is “worth” (with that view possibly being backed by either debt or specific plans with what to do with the proceeds).

Simultaneously buyers have a depreciated view of the value of money and the cost of credit. This has obviously changed a bit in the last few years but nothing has really happened to make it obvious that loading yourself up on debt leads to negative consequences.

Dublin 18 is a desirable place to live. Prices have fallen by 50% in this area and houses are selling at those prices. Not sure about increase in prices mind as bidding against somebody else on a 3 bed semi seems mad given there are lots of them in D18

The 50% drop is spin, they’ve actually only come down by 30%.
VI’s have embraced the 50% drop to shift more product. It’s a classic sales pitch. 8-

I don’t have an actual link but in last Wednesday’s Daily Mail Liz O’Kane XX was “writing” about house prices in her weekly column!

Apparently she is bidding for a number of properties on behalf of her clients in South Dublin and in each case there is a bidding war XX .

What is it about Liz O’Kane ??

What is it about Liz O’Kane ??

Schizophrenia ??

Time to shut up shop so :angry:

If I was selling a house right now I’d want to sell it to Liz O’Kane. Or Isobel. Where else would you find someone who wants to pay the largest amount they can afford?

I can’t imagine why people would ask them to buy on their behalf though. Do people really do that?

I didn’t see the article but did she say if she was bidding her two clients against eachother, just to feel the rush again! One more hit, just one hit…