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Property Market 2015

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    #1022
    by the seaside
    Registered Users Posts: 389 ✭✭by the seaside


    Quick thanks to you all for acting as a clearing house on news (and interesting mix of views).

    We are selling our house in England and moving to Dublin shortly. Will rent then buy, so this is really informative.


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    #1023
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,658 Mod ✭✭✭✭helimachoptor


    by the seaside wrote: »
    Quick thanks to you all for acting as a clearing house on news (and interesting mix of views).

    We are selling our house in England and moving to Dublin shortly. Will rent then buy, so this is really informative.

    Exchange rate should be of benefit..


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    #1024
    by the seaside
    Registered Users Posts: 389 ✭✭by the seaside


    helimachoptor wrote: »
    Exchange rate should be of benefit..

    Hope so. Just as long as the UK election outcome isn't too messy.


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    #1025
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    by the seaside wrote: »
    Hope so. Just as long as the UK election outcome isn't too messy.

    A conservative/SNP coalition could be fun.


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    #1026
    by the seaside
    Registered Users Posts: 389 ✭✭by the seaside


    MarkAnthony wrote: »
    A conservative/SNP coalition could be fun.

    The SNP would be signing their electoral suicide note.


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    #1027
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    by the seaside wrote: »
    The SNP would be signing their electoral suicide note.

    Didnt stop the lib dems.


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    #1028
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    helimachoptor wrote: »
    Exchange rate should be of benefit..

    We've gained 5% on sterling and the dollar in the last 3 days- on the back of increasingly rosy news from France and Germany- and bad news from the UK and the US.

    The economy is a bizarre mess- and totally all-over-the-place......


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    #1029
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    CSO figures out today. Will be interesting to see if there's any effect from 10%ers trying to buy before their approval runs out.


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    #1030
    by the seaside
    Registered Users Posts: 389 ✭✭by the seaside


    MarkAnthony wrote: »
    Didnt stop the lib dems.

    I expect these lessons will be learned. Minority Tory government is my bet.


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    #1031
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    Property prices in Dublin down -3.1 this year so far...

    http://www.cso.ie/en/releasesandpublications/er/rppi/residentialpropertypriceindexfebruary2015/#.VRKVx2Nqiho


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    #1032
    gogreen81
    Registered Users Posts: 176 ✭✭gogreen81


    lima wrote: »
    Property prices in Dublin down -3.1 this year so far...

    cso.ie/en/releasesandpublications/er/rppi/residentialpropertypriceindexfebruary2015/#.VRKVx2Nqiho[/url]

    Any EAs reading this?


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    #1033
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    gogreen81 wrote: »
    Any EAs reading this?

    I guess there are several ways of reading it. One way would be that price drops in February are not as steep as January and it is following the 2014 pattern where similar drops occurred in the same months.


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    #1034
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭Saipanne


    Some people on here seemed convinced that the CBI rules would have no effect on prices.


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    #1035
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Saipanne wrote: »
    Some people on here seemed convinced that the CBI rules would have no effect on prices.

    I certainly hope they will have an effect, but do you see a clear one yet?

    Dublin index for the beginning of the year:

    2014
    January -1.3
    February -0.6

    2015
    January -1.9
    February -0.7

    Prices are dipping a bit more this year - but it's definitely not night and day and in both cases the drop is lower in February. I don't really see a clear impact yet.


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    #1036
    TheDriver
    Registered Users Posts: 12,514 ✭✭✭✭TheDriver


    they will have some effect but there is also more activity in the market. These rules will also affect some people but not everyone.


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    #1037
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭Saipanne


    Bob24 wrote: »
    I certainly hope they will have an effect, but do you see a clear one yet?

    Your insertion of the word "clear" leads me to believe that no amount of evidence would be clear enough for you.

    I'll pass, thanks.


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    #1038
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    Bob24 wrote: »
    I certainly hope they will have an effect, but do you see a clear one yet?

    Dublin index for the beginning of the year:

    2014
    January -1.3
    February -0.6

    2015
    January -1.9
    February -0.7

    Prices are dipping a bit more this year - but it's definitely not night and day and in both cases the drop is lower in February. I don't really see a clear impact yet.

    You sure about those figures? I'm fairly sure Feb 2014 was a +.


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    #1039
    Eugene Norman
    Closed Accounts Posts: 5,191 ✭✭✭Eugene Norman


    gaius c wrote: »
    You sure about those figures? I'm fairly sure Feb 2014 was a +.

    CSO figures are often revised.


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    #1040
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    gaius c wrote: »
    You sure about those figures? I'm fairly sure Feb 2014 was a +.

    If you go here: http://www.cso.ie/en/releasesandpublications/er/rppi/residentialpropertypriceindexfebruary2015/#.VRKldOH3SMZ

    Then at the bottom "Show Table 6 Dublin - all residential properties", there is a full history.

    I might read it incorrectly and stand to be corrected if it is the case, but I seem to see that for February 2014 the change compared to the previous month is -0.6%.


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    #1041
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    Gotcha. Thanks.


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    #1042
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Single digit increase this year in Dublin prices, probably high single digit.

    Double digit increase in apartments (Dublin), probably low double digits.

    If I'm wrong I'm going to write a poem about The Conductor and Morri!


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    #1043
    stevedublin
    Registered Users Posts: 979 ✭✭✭stevedublin


    lima wrote: »
    Property prices in Dublin down -3.1 this year so far...

    http://www.cso.ie/en/releasesandpublications/er/rppi/residentialpropertypriceindexfebruary2015/#.VRKVx2Nqiho

    its -2.4 for Dublin and less than that nationally.

    Edit: I see its -3.1 for houses but +2.9 for apartments


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    #1044
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    For whatever the comment is worth: http://www.irishtimes.com/business/economy/house-prices-fall-again-in-wake-of-new-lending-restrictions-1.2152689

    Commenting on the figures, John McCartney of Savills said:”With prices continuing to rise more quickly than earnings affordability constraints are beginning to have an impact. This has removed some of the heat that was evident in the market in the middle of last year.”

    “Agents are now reporting that buyers are no longer in a frenzy to buy for fear that prices will run beyond their means. This is a very positive development as expectations of rapid price growth can become self-fulfilling and can quickly lead to overheating,” he said.


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    #1045
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    stevedublin wrote: »
    its -2.4 for Dublin and less than that nationally.

    Edit: I see its -3.1 for houses but +2.9 for apartments

    Any explanation why apartment are increasing while houses are decreasing?


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    #1046
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    Bob24 wrote: »
    Any explanation why apartment are increasing while houses are decreasing?

    Silicon Docks and D4/D6 mainly seem to be rocketing up. I'm in tech and our workforce is mostly from overseas and they all want to rent close to work and have 50-70k salaries.

    Where I was looking last year hasn't moved in 7-8 months. You can still pick up apts there for e240-250k whereas little apts in D4/D6 are up to e340k, paid for mostly by investors


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    #1047
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    Bob24 wrote: »
    For whatever the comment is worth: http://www.irishtimes.com/business/economy/house-prices-fall-again-in-wake-of-new-lending-restrictions-1.2152689

    Commenting on the figures, John McCartney of Savills said:”With prices continuing to rise more quickly than earnings affordability constraints are beginning to have an impact. This has removed some of the heat that was evident in the market in the middle of last year.”

    “Agents are now reporting that buyers are no longer in a frenzy to buy for fear that prices will run beyond their means. This is a very positive development as expectations of rapid price growth can become self-fulfilling and can quickly lead to overheating,” he said.
    Somebody needs to get onto Johnboy and explain that prices are not "continuing to rise". They are in fact falling.


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    #1048
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    now that there are price falls, I hope those who complained that prices were to high will buy or will they just complain no matter what.


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    #1049
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    handlemaster wrote: »
    now that there are price falls, I hope those who complained that prices were to high will buy or will they just complain no matter what.

    I guess it depends what their reference is. Prices are lower than they were 2 months ago, but are also higher than they were 6 months ago.


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    #1050
    johnp001
    Registered Users Posts: 658 ✭✭✭johnp001


    handlemaster wrote: »
    now that there are price falls, I hope those who complained that prices were to high will buy or will they just complain no matter what.
    "Sitting on the sidelines, cribbing and moaning is a lost opportunity."
    So those who spotted that property was grossly overvalued, make sure you all catch the falling knife and buy straight into this rapidly depreciating asset!


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    #1051
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Bob24 wrote: »
    Any explanation why apartment are increasing while houses are decreasing?

    They saw massive fall offs, some people are buying them in lieu of a house due to affordability, some people are seeing the rental returns and thinking (wrongly) Cer-ching, low volume of transactions mean the data isn't great anyway.

    Also some desirable apartments coming on stream, as above.


This discussion has been closed.
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