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Prices to fall further - Fitch

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    #2
    mrgaa1
    Closed Accounts Posts: 759 ✭✭✭mrgaa1


    Extract from that webpage

    Rating agency Fitch has said it expects further falls in both residential and commercial property prices in Ireland. It said it has already factored such falls into its analysis of the country's rating.

    The Permanent TSB/ESRI index for the second quarter of this year suggests that Irish house prices have declined by 35.2% since their peak, but today Fitch said it believes this will likely understate the full decline.

    'Fitch already assumes a 45% decline in residential values from their peak levels in its base case analysis,' the agency said.

    32.5% from TSB/ESRI to 45% from Fitch.

    There are areas where we are most definetly at the bottom. There are areas where there is some substantial falls to go. We all know this so what Fitch are saying isn't really something new.


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    #3
    quozl
    Registered Users Posts: 3,308 ✭✭✭quozl


    mrgaa1 wrote: »
    There are areas where we are most definetly at the bottom.

    Please substantiate this in some form. Where, and why?

    I do not believe it.


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    #4
    johndaman66
    Registered Users Posts: 4,097 ✭✭✭johndaman66


    Thanks for posting OP but hardly news all the same though...Pretty much same news we are now well familiarised with but coming from rating agency Fitch this week.


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    #5
    Johnny Bitte
    Registered Users Posts: 1,099 ✭✭✭Johnny Bitte


    mrgaa1 wrote: »
    There are areas where we are most definetly at the bottom. There are areas where there is some substantial falls to go. We all know this so what Fitch are saying isn't really something new.

    What areas are bottom?


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    #6
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    If you read mrgaa1's old posts you'll see he has predicted the bottom numerous times. I'm pretty sure he's an estate agent...


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    #7
    PaulGogartyTD
    Company Representative Posts: 115 Verified rep ✭PaulGogartyTD


    David McWilliams says there's more a correction to come....


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    #8
    mrgaa1
    Closed Accounts Posts: 759 ✭✭✭mrgaa1


    I think you'll find that i've stated many, many times I'm not an estate agent. For those who need proof (probably those who live in the Dublin bubble and can't see across the M50 or think life doesn't exist outside the M50) here are some examples. I simply use DAFT, MYHOME, and keep my eyes and ears open to whats out there.

    www.daft.ie/1516820
    www.daft.ie/1346517
    www.daft.ie/1490627
    www.daft.ie/1372761
    www.daft.ie/1541682
    www.daft.ie/1265107
    www.daft.ie/1433686
    http://www.myhome.ie/residential/results?maxprice=125000&types=89&sortColumn=Price

    These are random samples throughout the country. So there are excellently priced homes throughout the country.

    Also here is an article about spending - http://www.bbc.co.uk/news/business-11507319


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    #9
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    mrgaa1 wrote: »
    I think you'll find that i've stated many, many times I'm not an estate agent. For those who need proof (probably those who live in the Dublin bubble and can't see across the M50 or think life doesn't exist outside the M50) here are some examples. I simply use DAFT, MYHOME, and keep my eyes and ears open to whats out there.

    www.daft.ie/1516820
    www.daft.ie/1346517
    www.daft.ie/1490627
    www.daft.ie/1372761
    www.daft.ie/1541682
    www.daft.ie/1265107
    www.daft.ie/1433686
    http://www.myhome.ie/residential/results?maxprice=125000&types=89&sortColumn=Price

    These are random samples throughout the country. So there are excellently priced homes throughout the country.

    Also here is an article about spending - http://www.bbc.co.uk/news/business-11507319

    Sorry, how does that prove certain areas are at the bottom?


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    #10
    thebman
    Closed Accounts Posts: 10,012 ✭✭✭✭thebman


    mrgaa1 wrote: »
    I think you'll find that i've stated many, many times I'm not an estate agent. For those who need proof (probably those who live in the Dublin bubble and can't see across the M50 or think life doesn't exist outside the M50) here are some examples. I simply use DAFT, MYHOME, and keep my eyes and ears open to whats out there.

    www.daft.ie/1516820
    www.daft.ie/1346517
    www.daft.ie/1490627
    www.daft.ie/1372761
    www.daft.ie/1541682
    www.daft.ie/1265107
    www.daft.ie/1433686
    http://www.myhome.ie/residential/results?maxprice=125000&types=89&sortColumn=Price

    These are random samples throughout the country. So there are excellently priced homes throughout the country.

    Also here is an article about spending - http://www.bbc.co.uk/news/business-11507319

    About a house that in areas where people have jobs...

    While those are lovely houses they are still overpriced for their location IMO.

    I would expect many of thoses houses to be going for at most 90,000 Euro.


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    #11
    Coles
    Registered Users Posts: 1,020 ✭✭✭Coles


    mrgaa1 wrote: »
    Also here is an article about spending - http://www.bbc.co.uk/news/business-11507319
    All that article shows is that we are experiencing massive emigration.

    It's unlikely that house prices will stop declining when our economy is collapsing, wages are falling, taxes are rising, we have a massive deficit, no ability to devalue our currency, our national debt is exploding, a property tax is probable, water rates are imminent, we have massive unemployment, migrants are leaving, rents are falling, families are emigrating, we have 300'000 empty homes, banks aren't lending, rates can only rise, our corporation tax rate is threatened, we have no chance of medium term growth and we're governed by a collection of goons.


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    #12
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    Gaff 5 doors down the road from me sold for the asking price of €280.000

    2 or so months ago, still a bit going on.


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    #13
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    bryaner wrote: »
    Gaff 5 doors down the road from me sold for the asking price of €280.000

    2 or so months ago, still a bit going on.

    Yeh sure it did just like the one 3 doors down from you.:rolleyes: http://www.boards.ie/vbulletin/showthread.php?p=67209684&highlight=house#post67209684


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    #14
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    PaulGogartyTD wrote: »
    David McWilliams says there's more a correction to come....

    Sick to me teeth of that man tbh, he'd love to have us all in the nut house..


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    #15
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    gurramok wrote: »
    Yeh sure it did just like the one 3 doors down from you.:rolleyes: http://www.boards.ie/vbulletin/showthread.php?p=67209684&highlight=house#post67209684

    Ok 3-5 doors down whatever ill give you the mans mobile if you want, I have no reason to lie and neither has he.

    You believe whatever you want I'm just stating the facts that I know..


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    #16
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    bryaner wrote: »
    Ok 3-5 doors down whatever ill give you the mans mobile if you want, I have no reason to lie and neither has he.

    You believe whatever you want I'm just stating the facts that I know..

    Yeh sure. Back then there were 150 4beds available at sub 280k in Navan. Now there is 145. That house you keep trodding on about must indeed be special :rolleyes:


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    #17
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    gurramok wrote: »
    Yeh sure. Back then there were 150 4beds available at sub 280k in Navan. Now there is 145. That house you keep trodding on about must indeed be special :rolleyes:

    Jaysus your unreal keep believing your own muck, I mentioned this house twice

    and this equates trodding :rolleyes:.

    Sorry for telling the truth


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    #18
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    bryaner wrote: »
    Sick to me teeth of that man tbh, he'd love to have us all in the nut house..

    He's been right about most things, unlike nearly everyone else.


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    #19
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    Mr. Loverman wrote: »
    He's been right about most things, unlike nearly everyone else.

    Yes I agree, but he loves doom and gloom while making plenty of cash out of it.


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    #20
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    gurramok wrote: »
    Yeh sure. Back then there were 150 4beds available at sub 280k in Navan. Now there is 145. That house you keep trodding on about must indeed be special :rolleyes:

    Whats Mam cooking this evening?


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    #21
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    bryaner wrote: »
    Yes I agree, but he loves doom and gloom while making plenty of cash out of it.

    I don't know if I agree with that. What else is he supposed to say? Everything's grand?!


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    #22
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    bryaner wrote: »
    Whats Mam cooking this evening?

    So out of 150 4bed houses in Navan, the one that you claim is beside you sells at an asking price of 280k, not once but twice!


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    #23
    Fluffybums
    Registered Users Posts: 362 ✭✭Fluffybums


    mrgaa1 wrote: »
    I think you'll find that i've stated many, many times I'm not an estate agent. For those who need proof (probably those who live in the Dublin bubble and can't see across the M50 or think life doesn't exist outside the M50) here are some examples. I simply use DAFT, MYHOME, and keep my eyes and ears open to whats out there.

    www.daft.ie/1516820
    www.daft.ie/1346517
    www.daft.ie/1490627
    www.daft.ie/1372761
    www.daft.ie/1541682
    www.daft.ie/1265107
    www.daft.ie/1433686
    http://www.myhome.ie/residential/results?maxprice=125000&types=89&sortColumn=Price

    These are random samples throughout the country. So there are excellently priced homes throughout the country.

    Also here is an article about spending - http://www.bbc.co.uk/news/business-11507319

    Only excellently priced if they are actually selling.
    This gives no indication of the selling price.
    With an over supply of housing, limited supply of credit and high unemployment the chances are that prices have further to fall.


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    #24
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    gurramok wrote: »
    So out of 150 4bed houses in Navan, the one that you claim is beside you sells at an asking price of 280k, not once but twice!

    I mentioned the sale of the same house twice, and yes it sold for 280k.

    Are you able to cram that into your tiny skull.


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    #25
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    Mr. Loverman wrote: »
    I don't know if I agree with that. What else is he supposed to say? Everything's grand?!

    We all know everything is not grand, just don't need it rammed down our throats 24/7/365


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    #26
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    bryaner wrote: »
    I mentioned the sale of the same house twice, and yes it sold for 280k.

    Are you able to cram that into your tiny skull.

    No need for abuse for been caught out on your ridiculous claim.


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    #27
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    gurramok wrote: »
    No need for abuse for been caught out on your ridiculous claim.

    Lol it's true so you can't educate pork! Don't worry about the small skull..


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    #28
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    bryaner wrote: »
    Lol it's true so you can't educate pork! Don't worry about the small skull..

    What? Both posts reported for personal abuse.


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    #29
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    gurramok wrote: »
    What? Both posts reported for personal abuse.

    I'll tell mammy to. Grow up man :rolleyes:

    You are saying I'm a liar which I certainly am not.


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    #30
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    bryaner wrote: »
    I'll tell mammy to. Grow up man :rolleyes:

    You are saying I'm a liar which I certainly am not.

    Where did I say you were a liar? Back that up or withdraw it.


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    #31
    bryaner
    Registered Users Posts: 3,181 ✭✭✭bryaner


    gurramok wrote: »
    No need for abuse for been caught out on your ridiculous claim.

    = liar


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