Current public sentiment towards the housing market?

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Calina said:
They don't have a 100% mortgage offering if I recall correctly. My experience with AIB too is that they're a bit tougher in lending criteria than other institutions are.

So this is interesting. It's like "If you're a good enough risk to get a mortgage out of us then we'll reward you"...
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.... rather than a broker.

I'm not really sure this move is indicative of anything really. AIB are strict enough I believe, so if they were really desperate they'd be relaxing their lending policies before making an offering like this.

Also, AIB have been pushing savings policies lately, more than most of the other banks, offering better rates etc. Coupled with the sale and lease-backs, I wonder are they in the process of making the books look a bit healthier in the expectation of a downturn.
 
whizzbang said:
I've got daily stats for daft.ie on a county by county basis for sales and rents since July if you are interested?

to go beyond 150 choose a smaller sample, ie choose areas within Dublin south or view houses and appartments in two different searches.
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whizzbang, do you have properties on sale all over ireland(or just co dublin) data from daft? if yes would be great if you can pm me. thanks
 
murray said:
Room 305 - best of luck - as i previously mentioned - im selling my PPR to go renting & clear a tidy profit!- insist your EA gets an 'AIP' (agreement in principle) from the bidders whith a full declaration of their position ie.FTB , downsizing, trading up etc. My contracts are just out & survey done - fingers crossed- i would'nt fancy going back to market in November/new year..............
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Smart move. You will just have earned the easiest money you ever will. Invest wisely and you can knock off 10-15 years of your retirement date.
 
Calina said:
They don't have a 100% mortgage offering if I recall correctly. My experience with AIB too is that they're a bit tougher in lending criteria than other institutions are.quote]

They do offer 100% to professionals (accts, doctors etc).
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phoenix_n - i really hope you are right !!

in my mind - it just doesnt add up whatever way you look at it - 600k for a 2 bed apartment bought for 365k - - 2 yrs ago ???? I had better learn how to invest wisely & very quickly - i have to admit , the only game i know reasonably well is property............... gold/shares/etc all greek to me ! better start learning !
 
phoenix_n said:
Smart move. You will just have earned the easiest money you ever will. Invest wisely and you can knock off 10-15 years of your retirement date.
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phoenix_n - you're not Eddie Hobbs by any chance are you?
 
Raskolnikov said:
Not a snowballs chance in hell you'll ever get a house like that for €100,000 or even €200,000 ever again.

€330,000 is a rough figure at where the mortgage would exceed the rental income. Perhaps it's a little high, but I wouldn't say by much.
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Why not?

Seriously? Japanese property prices fell for 15 years running after their bubble burst. There really is nothing to prevent it happening here too.
 
The warning given to those investing in the stockmarket is to never try and time the market. Selling to rent is probably the property equivalent, and while I would be extremely bearish on residential property I'd be very uncomfortable with the idea of STR'ing.
 
River said:
Calina said:
They don't have a 100% mortgage offering if I recall correctly. My experience with AIB too is that they're a bit tougher in lending criteria than other institutions are.quote]

They do offer 100% to professionals (accts, doctors etc).
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That may be the official line but I was offered 100% loan with them and I'm in IT. Didn't go with it by the way.
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hmmm said:
The warning given to those investing in the stockmarket is to never try and time the market. Selling to rent is probably the property equivalent, and while I would be extremely bearish on residential property I'd be very uncomfortable with the idea of STR'ing.
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Selling up to rent would be more of a measured response though; property doesn't have to be at its peak, you need only be confident that it is either shortly before or shortly after. Short can mean months or even a year or two so long as the cost of making the switch is low. Personally speaking, I'd be saving money on a monthly basis if I rented an equivalent home to the one I own - my only risk would be continued aggressive house price inflation or a dramatic short-term increase in rents. It is a gamble, but I'm prepared to spend a few years paying a little extra to rent somewhere nice but out of my purchase price range.
 
hmmm said:
The warning given to those investing in the stockmarket is to never try and time the market. Selling to rent is probably the property equivalent, and while I would be extremely bearish on residential property I'd be very uncomfortable with the idea of STR'ing.
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Got to disagree there.........Timing is Everything ! If I was to follow that kind of logic I should either just get in or get out of a market irrespective of events ???

To blindly attach yourself to any asset (even your own PPR) irrespective of how wild the value of that asset has appreciated don't sound like good sense to me.

Property in this town is completely out of sync with incomes. Either property falls drastically or Incomes rise dramatically. I've placed my bet.
 
ncs -totally agree - as 2pack would say "nobody ever lost out taking a profit!" I would have moved anyway in the next 2 yrs for other reasons - so now is as good a time as any.

And I truly think it is going to go pear shaped.....
 
murray said:
phoenix_n - i really hope you are right !!

in my mind - it just doesnt add up whatever way you look at it - 600k for a 2 bed apartment bought for 365k - - 2 yrs ago ???? I had better learn how to invest wisely & very quickly - i have to admit , the only game i know reasonably well is property............... gold/shares/etc all greek to me ! better start learning !
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if i was in your position i'd buy a small block of apts in Hamburg as returns are about 6% and use it as a cash cow asset producing yearly income and prices are only set to increase. Couple that with impending legislation will make it even more profitable. Although lots of regs regarding tenancy i'd look on it as a pensionable asset. My two bits.
 
hmmm said:
The warning given to those investing in the stockmarket is to never try and time the market. Selling to rent is probably the property equivalent
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I would disagree. I think STR is more akin to realising that the price of your shares is completely out of whack with the company's earnings/dividends. Sure they may go even higher, but you're happy to sell now and to at least do well, instead of chasing the ever elusive 'top'.
 
hmmm said:
The warning given to those investing in the stockmarket is to never try and time the market. Selling to rent is probably the property equivalent, and while I would be extremely bearish on residential property I'd be very uncomfortable with the idea of STR'ing.
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I don't think you can compare STR as trying to time the market. Many are using it as a mechanism to lock in profit made over the last few years and already had plans of selling anyway to trade up, emigrate or whatever. With rents in good areas so cheap, it doesn't make sense to continue paying a big mortgage for a property that you ultimately may not want to live in in the near future anyway.
 
Some building industry spokesperson was on Pat Kenny this morning (didn't catch who) suggesting another 80,000 builds next year.
 
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