Take a look at the map topman - Finglas!
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Take a look at the map topman - Finglas!
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phoenix_n
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By the number of apts for sale in Premier Square and the falling asking prices i think the owners are beginning to realise Glasnevin does not quite extend to Finglas Road.
IMO the reason it is not noticeable is that we are borrowing so much, private sector borrowing at almost 1500m a week - easy to find additional 70m a week in there to pay interest.
Because we are spending this 1500m mostly in an economy of only 4m then its hardly a surprise that a massive asset bubble builds up as well as massively over inflated wages for scarce labour.
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random2006
Guest
I was listening to Newstalk over the weekend and two surprising statements caught my attention. The first was on the repeat of the breakfast show, Ger and the business guy were discussing ESB's proposed sale of land, and Ger was talking about how groups with large land banks AIB, BOI, ESB et were selling up while trying to maintain the facade that the property market is going to keep on rocketing upwards!
The second was during the business show, when the host said that rental yields were going up and that prices of houses were falling!!
While these may or may not have been heard by the general public they could get people thinking, especially the house price falling one especially since the latest reports only talk about a slow down.
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The second was during the business show, when the host said that rental yields were going up and that prices of houses were falling!!
While these may or may not have been heard by the general public they could get people thinking, especially the house price falling one especially since the latest reports only talk about a slow down.
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sosulio
Guest
For the record this house is on the other side of town from moyross, but the area is just as dodgy! bus and postal service were cancelled there as far as I know!
Dunsink Lane where all the bad stuff happens is not Dunsink estate in Finglas South, completely different areas about half mile apart.
Berryfield in first link is like the local Beirut hence the lowest price in the general area.
Surprised at whathome's other 2 at €280k
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Long time since i saw a 280k hse in Finglas, usual price for them would of been 300k.
And yes Prospect Hill is 100% defo in Finglas with Hazelcroft/Fairlawn behind it.
Premier Square just happens to be on 'correct' side of Finglas Road, still doesn't deserve a Glasnevin address considering it replaced the old Premier Dairy which was ALWAYS in Finglas!
Talk about developers trying to up prices with misleading addresses!
Raskolnikov
Registered User
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Bank of Ireland/AIB have covered their asses with Irish property. The maximum loan you can get from either is 92%, also neither bank offers interest only options on their mortgages. Ask anyone who has gotten a mortgage with either bank, it's not easy unlike some of they're competitors.
Hi Bo Se! Could you provide some links or references to UK opinion that the market had already 'crashed'? A poll last week showed that 66% of respondents thought the UK property market would 'crash' rather than achieve a 'soft landing' (the definition of which I have queried previously on this thread). There is an acknowledged 'significant slowdown' in property sales over the past 18 months and significant price-reductions, significant increases in the time from putting on the market to eventual sale, significantly longer periods of vacancy in buy-to-lets etc., etc. In my view that is merely the beginning of the downturn in this market.......just as the 10% drops in price noted on this thread is the beginning of a shift in orientation towards property in Ireland. It takes time for cumulative forces to feed through. Like the moment of the turning of the tide you hardly see any change beforehand but when it does turn its unmistakeable. IMO in the UK a number of factors are still feeding through into the equation and it is not clear how bad it will be. On the broader economic front Ireland and the UK have very different vulnerabilities.
This may be the case. However with 302,000m borrowed already and 275m being borrowed every week huge exposure exists for whole lending sector.
IMO the central bank is somehat embarrassed by this and hence their relief the numbers came in just underneath so that the headlines would say slowdown in lending.
Even 5% bad debts would be 16,000 m. How many people work in legal / accounting / valuation etc pushing these increases in borrowing and alot of these people are well paid hence the risks to the leafy suburbs.
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miju
Guest
well to respond to that i'll agree with finglas people wanting to stay in finglas as i'm from the area myself hence seeing the property for that price in the first place
the house is gone from daft but will try to dig it up from google cache
Primetime was just dealing with the First Time Buyer/Stamp duty issue where the house is let out instead of being lived in by the purchaser. This will not help confidence in the market at the moment and could end in an increase in supply as a few hefty (and most unexpected) tax bills arrive though the letterbox
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discstu
Guest
Would people have been that stupid? then again saw this a few days ago on another thread
Utility bills - Landlord scams
Are all the landlords in the country scamming tenants by having the utility bill ( esb, telephone etc ) registered in the landlord's name? The landlord then usually drops off the bill to the tenants who will usually pay the landlord by cash ( as the amounts are not that large to warrant a cheque or DD ). The landlord is then able to use the utility bill as an expense when preparing his/her year end tax return by offsetting it against rental income. Thus, the landlord is able to reduce his/her tax bill without having ever incurred the cost in the first place.
Did they give any idea of the numbers involved
Utility bills - Landlord scams
Are all the landlords in the country scamming tenants by having the utility bill ( esb, telephone etc ) registered in the landlord's name? The landlord then usually drops off the bill to the tenants who will usually pay the landlord by cash ( as the amounts are not that large to warrant a cheque or DD ). The landlord is then able to use the utility bill as an expense when preparing his/her year end tax return by offsetting it against rental income. Thus, the landlord is able to reduce his/her tax bill without having ever incurred the cost in the first place.
Did they give any idea of the numbers involved
Didn't catch the whole piece but it didn't seem like an inconsiderable amount. The revenue have carried a pilot test to ascertain the extent of the avoidance and it looks like they want to delve a bit further
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partisan
Guest
The UK Property market is heating up again with an 8% rise year on year for September. A Sunday times article this week puts forward the view that there wasn't a house price bubble in the UK.
Was in Chicago last week and looked at a 3000 sq ft penthouse condo close to Michigan Ave (two blocks) on the right side of town. 3 bed, 3 baths and 3 balconies for $1.5m. They were definitely willing to negotiate lower price if I was interested.(I wasnt) Market has collapsed in a very short time and developers are worried and are undercutting second hand properties. Will happen here, its only a matter of time.
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phoenix_n
Guest
Will be watching these properties fall in price so posted them here as easier to look up. Some have already fallen in price so will detail that later when have time.
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58 Tolka Vale, Glasnevin - 355k
65 TOLKA VALE, Glasnevin - 375k
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58 Tolka Vale, Glasnevin - 355k
65 TOLKA VALE, Glasnevin - 375k
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Hi Marie,
I hear what you're saying and well put - I'm not so naive as to deny risks in Ireland and presumably also in the UK. But the truth is no one knows what way the market will go: over the next 12/24/36 months, or any other period you choose to pick. As you might say yourself sometimes you can't tell which way the tide is going.
Re your specific question on UK opinion/sentiment have a look at some old threads on
http://www.housepricecrash.co.uk
You may know the site - apparently dedicated to tracking the crash in the UK. Lots of anecdotals in the past about specific price reduction similar to currently appearing here. The site also shows forecasts and historic/12 mth growth indices from various finacial institutions. Funnily enough, although there were a lot of weak and negative growth forecasts for 2006 in December (still shown) these have all been well exceeded by the actual figures also shown.
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