Brendan Burgess
Founder
- Messages
- 52,089
IPAV, the auctioneers' body have made a submission saying: MORTGAGE LENDING RULES HAVE STAGNATED MARKET AND IS NOW CHOKING IT - SURVEY
On reading this, it occurs to me that the rules might actually be helping First Time Buyers.
" Impact of Macroprudential Rules:
Property prices stabilised initially, then stagnated and are now in a downward trajectory
Supporting Evidence
...
DAFT: The Daft.ie House Price analysis of recent trends in the Irish residential sales market Q2 2016:
-The annual increase in average house prices currently stands at 6.3%, compared to 8.5% six months ago and 15.5% at the start of 2015.
-Dublin inflation slows to 1% year-on-year"
They seem to be implying that annual increases of 15% is good for buyer and increases of 1% are bad for buyers.
If the Central Bank rules have stopped house prices from increasing by around 20% in the last 18 months, then it surely means that first time buyers would be finding it easier to get on the housing ladder.
Brendan
On reading this, it occurs to me that the rules might actually be helping First Time Buyers.
" Impact of Macroprudential Rules:
Property prices stabilised initially, then stagnated and are now in a downward trajectory
Supporting Evidence
...
DAFT: The Daft.ie House Price analysis of recent trends in the Irish residential sales market Q2 2016:
-The annual increase in average house prices currently stands at 6.3%, compared to 8.5% six months ago and 15.5% at the start of 2015.
-Dublin inflation slows to 1% year-on-year"
They seem to be implying that annual increases of 15% is good for buyer and increases of 1% are bad for buyers.
If the Central Bank rules have stopped house prices from increasing by around 20% in the last 18 months, then it surely means that first time buyers would be finding it easier to get on the housing ladder.
Brendan