Current public sentiment towards the housing market?

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Lots of bearish articles in media lately and this either reflects public sentiment or public sentiment will be affected by it, also consumer sentiment is still weakening. A few more months of articles like the indo one today and from last week will turn enough people negative to affecte market. Even if the numbers of people buying houses to live in doesnt fall the market can still fall if the investors (40% of market) cut down on their purchases/sell up a percentage or all of their properties.
 
Banks and other finance houses lent out €4.7bn last month alone, according to the latest Central Bank and Financial Services Authority report.
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Amazing to think that after the destruction of Lebanon where, as the Israelis claimed, the "rubble bounced on rubble" and 95% of highways networks and bridges were put out, that the estimates of total cost to rebuild is less than the amount that Irish people borrowed in the month of July !!
 
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Remix said:
Amazing to think that after the destruction of Lebanon where, as the Israelis claimed, the "rubble bounced on rubble" and 95% of highways networks and bridges were put out, that the estimates of total cost to rebuild is less than the amount that Irish people borrowed in the month of August !!
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Yeah costs of building in middle east are dirt cheap, the arabs import cheap workers from rest of asia as well as local labour at minimal rates of pay.
 
IMO, the market has now unoffically crashed.

Congrats to anyone who has made, what will become, the old money of years to come.
 
liteweight said:
'...I think it was last week that people on this thread were calling the Indo a rag and sneering at it's content. They also asked who would read a paper like the Indo. Sneering at the types if you know what I mean.
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I think you're getting yourself confused between the Indo and the Sindo.
 
the Independent group has made a decision that the property market 'as is' and 'as has been' for the past few years is not in the national interest.

The Daily Indo seems to have 2 downers a day for our flipping friends, irrespective of the provenance of some of that material as was well spotted by exile and BigM who originated the AAM comment published in the Indo today .....or maybe BigM IS the Indo :D ? :p eh ???

I would say that this change of heart occured around when the CSO figure of 275k houses or 17 % of the national stock being EMPTY was revealed in June.

The Indo are correct of course. This insanity is not in the national interest at all ...however I dare not read the sunday version given the size of the thing :(
 
phoenix_n said:
IMO, the market has now unoffically crashed.

Congrats to anyone who has made, what will become, the old money of years to come.
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Nah - I'd say there's still some time to get out, houses that are priced well are still selling.

Although I did see what is probably the most bearish indicator to date IMO. Marginal asking price drops from €395,000 to €381,000 on 3-bed-semi's. I had seen plenty of price drops in the high/medium end but only started to see price drops in the sub 400k bracket very recently.
 
whathome said:
Nah - I'd say there's still some time to get out, houses that are priced well are still selling.
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Thats a KEY stamp duty bracket (€381k) meaning that they do not expect it to hold up above that with some shilly shallying over contents to 'finesse' the deal <cough> .

It would have held over that in the spring .
 
2Pack said:
Thats a KEY stamp duty bracket (€381k) meaning that they do not expect it to hold up above that with some shilly shallying over contents to 'finesse' the deal <cough> .

It would have held over that in the spring .
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Here's an example: New price €381,000
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Old Price €395,000 - google cached in July (3rd up from the bottom):
 
I found an easy way to look at masking of price drops on Daft. (Some of you may have already figured this out).

When searching for a property put in the lowest available figure into the "Max Price" box (currently 100K). This will then show up all the houses that have "Price on Application" as the asking price. As before check the Google cache to see the original asking price or if the house has gone from rental to a sell !!
 
cjh said:
Maybe it's because Irish people will only buy when they see prices going up! ;)
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Actually I've seen that work before when the market was still strong earlier in the year, house in Killiney advertised at €995,000 for about six months. They increased the price to 1.1M and it sold in a few weeks!
 
2Pack said:
The Daily Indo seems to have 2 downers a day for our flipping friends, irrespective of the provenance of some of that material as was well spotted by exile and BigM who originated the AAM comment published in the Indo today .....or maybe BigM IS the Indo :D ? :p eh ???
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Janeymac! If I was more sensitive I'd have you up for libel ;) !!

Seriously though, it's impossible to tell if the drop in asking price means the seller is desperate or just they need to drum up interest now the season is on again - especially when price drops to a convenient SD level.
 
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