Lemurz said:Came across the following story on the Unison site ............. Your thoughts?
THE average Dublin house price will hit the €750,000 mark or higher in 2015, according to 70pc of attendees at an Ulster Bank CBRE Gunne Property Conference yesterday.
Lemurz said:.
Looking forward to the future of the property market, delegates were relatively evenly split over a number of areas where SSIA money would be spent.
Investment in property, at 60pc, was the favourite.
zardebt said:Interested in yer thoughts,
Zardebt..
This one example doesn't tell you much about trends in the property market. It could be that this auctioneer isn't very good at establishing the value of property; or he decided to take a punt at 1.3 million and see would anyone bite. Anyone can set any asking price they like, it doesn't mean anything.A poster on another BB has been tracking property in Galway and come across this example.
Initial asking price of €1.3 million. Now €975,000.
A reduction of €325,000 or -25%
rory said:This one example doesn't tell you much about trends in the property market. It could be that this auctioneer isn't very good at establishing the value of property; or he decided to take a punt at 1.3 million and see would anyone bite. Anyone can set any asking price they like, it doesn't mean anything.
If the property sold for 1.3 million last year and was now on the market for 975k, then that would be a different story.
CoffeeBrew said:It's just one example of Mr. Expectations gets introduced to Mr. Reality. Stay tuned - I suspect these two will be getting a lot more acquainted in the years ahead.
tonka said:Yes. I can confim that . My sister is offloading a Creagán house 200m away .
You will see that lots of speculators are unloading in An Creagán at the moment , this speculative overhang is compressing some prices .
To maintain current house price to income ratios of 1:9 would require average incomes in Dublin to reach approximately €83,000 per annum, wage inflation of
approximately 200- 250% over ten years.
zardebt said:what happens to Mrs Expectations and Mrs Reality are they well matched....?
"The house price index has shown a remarkable slowdown," Kelleher told the Sunday Independent last week. "Outside of Dublin, house prices have been flat since last September."
"You could get to a point where inflation is higher than house price growth," he warned.
"I wouldn't rule out that house prices could fall in coming years."
The Davy economist ruled out a major collapse of property prices. "I'm not in the calamity mode," he said, pointing to the fact that current interest rates of about 2 per cent were unlikely to lead to any devastating meltdown. "But, if they were 4 or 5 per cent that would be another kettle of fish."
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