Current public sentiment towards the housing market?

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Was shocked to see the price of this in phibs. 550K.

Gonna watch this one to see how fall the price falls.
 

http://www.daft.ie/searchsale.daft?...earch+%BB&more=&tab=1&s%5Bsearch_type%5D=sale

This is funny, a blatant flipper obviously in a state of flux... I have never seen a more desparate add in my life, sentiment???
 
whathome said:
From RTE:

800 mortgages issued a day here
http://www.rte.ie/business/2006/0906/mortgages.html

"The number of mortgages taken out in Ireland is now running at 800 a day - a substantially higher number than previously estimated. "
Click to expand...


This means that according to these figures, investors are now making up 25% of all home purchase mortgages and FTBs are making up approximately 33%. This would suggest that the numbers of investors is less than we thought. 40% are second time buyers. I wonder what proportion of these are holding on to their first homes?

Interesting that re-mortgages now make up nearly 50% of all mortgages.
 
mollser said:
http://www.daft.ie/searchsale.daft?...earch+%BB&more=&tab=1&s%5Bsearch_type%5D=sale

This is funny, a blatant flipper obviously in a state of flux... I have never seen a more desparate add in my life, sentiment???
Click to expand...

I can see these apartments from the office where I work as I happen to be in the highly undesirable building site and car park that is Sandyford Industrial Estate.

The sentiment amongst my colleagues when I told them about this apartment is that the seller has made his money and the apartment will be worth more when the development is finished.
 


How can the seller have made his money until the apartment is sold?
It's been on daft for months now....

Also is that not 'apartments' - the add refers to a group of apartments?
 
cjh said:
How can the seller have made his money until the apartment is sold?
It's been on daft for months now....

Also is that not 'apartments' - the add refers to a group of apartments?
Click to expand...

Just reporting the sentiment in my office. As far as they're concerned it's money in the bank. You can't lose on property after all.
 
Those Beacon South Quarter Apartments were lauched at 295k - 350k for the one beds back in April 05. I work nearby and can remember the queues that extended around the block on the morning of the launch.

The apartments look to be nearing completion so the flipper must be feeling the impending mortgage beginning to loom over him. I wonder if he has already spent the 40-80k of 'profit' he thinks he's made.

As for the 'Amenities', well they might be promised but at the moment the only entertainment in the area comes from your car radio as you sit in a traffic jam.

It's a pretty soulless place to work, I can't imagine what it would be like to live here too...
 
phoenix_n said:
Was shocked to see the price of this in phibs. 550K.

Gonna watch this one to see how fall the price falls.
Click to expand...

[FONT=&quot]So was I - I just sold a far superior property one street away for the same money!

Admittedly I’m very happy with the sale - I did well out of it & am out before the fall [/FONT]
 
http://www.rte.ie/business/2006/0906/mortgages.html

This report is confusing to me.

They include figures for top-up mortgages and remortgages.

Working off the remainder then FTB make up about 33% of total demand.
Investors 27 to 28% and trader-uppers the remainder.
but the trader-uppers figure probably includes people retaining their original home for rental which would probably tally with what it says lower in the piece that the mortgages for investors and trader-uppers are the biggest in terms of money value and anecdotal evidence from this thread where people recount their experience of bank managers trying to co-erce trader-uppers into retaining their original property while taking out a massive mortgage.

FTBs represent 17.6% of market but 21% of loans advanced so the sums advanced to trader uppers and investors must be huge especially since most FTBs are getting 92 - 95% mortgages. I would have expected that trader uppers only need maybe 200,000 to get the extra bedroom in a house in a better part of town. FTB mortgages would be larger than this.

In short these figures don't make sense to me in the way they are presented and appear to be shown in the way they are to give the impression that there is a healthy balance in the mortgage market amongst all the different types of purchasers i.e. it suggests investors aren't really soaking up 40% of the supply.

Sorry if my post is confusing but the figures I'm basing my musings on are confusing too.
 
Germany's economy is based on sound fundamentals unlike the Irish and Anglo-Saxon ones......



How much would this pad in Germany cost if it were in Ireland?
It's within commuting distance of Dresden but only has 62 rooms
 
Regarding the report at http://www.rte.ie/business/2006/0906/mortgages.html
I think the high value of top-up loans are partly explained by property abroad on which the bank can't secure anything locally.
Top-up mortgages are on average over €90K so I can't see how people can be spending that much money on cars, gardens, holidays, new businesses etc.....
I'm figuring that the FTB figure is the only one in the report that is reasonably reliable and all the others are composed of or hiding borrowing for property investment\speculation here or abroad.
 
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Harrogate said:
Germany's economy is based on sound fundamentals unlike the Irish and Anglo-Saxon ones......



How much would this pad in Germany cost if it were in Ireland?
It's within commuting distance of Dresden but only has 62 rooms
Click to expand...

Nice Castle!

Shame there's no bus stop though - Did you know that Adamstown Castle in West Dublin already has a bus stop?

[broken link removed]
 
whether you value property in relation to how much it would rent out for or how much people in the area earn.....
Irish property is overvalued and German property is undervalued!
 
The pendulum has swung towards the bears on this thread noticeably of
late but I'm beginning to doubt the resolve of the various Central Banks to
stay the course in fighting inflation if their rate hikes start to hurt in 2007
despite their protestations to the contrary. I think I may even feel slightly
bullish. It's unnerving me.
 

Don't be unnerved - ECB is rushing to get rates to a neutral level. Interestingly they see neutral somewhere around 4%. Rates at 2% were unusually low but holding them that low for such a long time has fooled Irish buyers into thinking that 2% was normal.

More indications that ECB will keep raising beyond 3.5% into next year:
http://today.reuters.com/news/artic...6. REUTERS/Alex Grimm (GERMANY)&from=business

Note the comment from ECB's Weber : "There has been no decision to end the process of normalisation by the end of the year"
...they see raising rates as normalisation - rates returning to normal!
 
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