Current public sentiment towards the housing market?

Status
Not open for further replies.
I spent time in Cologne last month during the world cup and was told that you can rent a 2 bedroom apartment in the centre of Cologne which is a fantastic city with the population of Dublin for €500 per month or around €200,000 to buy. By any measure, far cheaper than here.
 
Contrarian said:
I spent time in Cologne last month during the world cup and was told that you can rent a 2 bedroom apartment in the centre of Cologne which is a fantastic city with the population of Dublin for €500 per month or around €200,000 to buy. By any measure, far cheaper than here.
Click to expand...

And i know of a building in central Hamburg (this from local knowledge) with four 2 bed apartments and one studio for 430,000. Transaction costs are about in total 10%. But its a complicated process to buy but yields are about 6 to 7%.
 
I spent time in Cologne last month during the world cup and was told that you can rent a 2 bedroom apartment in the centre of Cologne which is a fantastic city with the population of Dublin for €500 per month or around €200,000 to buy. By any measure, far cheaper than here.
Click to expand...
TBH, comparisons such as that are a waste of time and I don't know why people keep on bringing them up. If Cologne/Stockholm are such fantastic value move there.
 
Re: House Prices Falling - its official!

SteelBlue05 said:
They also fell from June to August inclusive last year, so is just a seasonal factor?
Click to expand...

I'm sure the season has something to do with it but it has dropped earlier (by 2 months) and a lot faster this year when compared to last year.

It only dropped 0.7% between June and August last year during the slow season. It's already dropped 1.2% between June and July of this year and when August's figures are included this will surely pull it even further below.

I guess none of this is that surprising in a climate of rising interest rates though I haven't seen it so clearly laid out before. I think next Septembers and Octobers figures are going to be crucial in determining how things will unfold.
 
What do you want to compare Dublin with? New York, Paris, Tokyo and Sydney? I'm sorry, but Dublin is not one of the world's great cities. It is a small city in a small country with a 3rd world infrastructure.
 
What do you want to compare Dublin with? New York, Paris, Tokyo and Sydney? I'm sorry, but Dublin is not one of the world's great cities. It is a small city in a small country with a 3rd world infrastructure.
Click to expand...
I don't want it compared with anything, that was my initial point (not having a go at you, it just that comparisons are not really possible).
Re your points on infrastructure and smallness etc, why stay (if indeed you reside in ireland)?
 
Here is an interesting snipppet from the Australian property market

"Perth couple Brian and Eileen Bowden are among thousands reaping the benefits of the state's robust economy as they prepare to extract a $100,000 profit on their home in just six weeks.
Having paid $420,000 for a four-bedroom, two-bathroom house in Perth's northern suburbs six weeks ago, they are now preparing to sell and build the house of their dreams."

Also in the article a HBOS Australia spokesman rejects that there is a housing bubble in Perth

[broken link removed]

While another headlines reads "HBOS rides homes boom"
HBOS Australia, the owner of WA's biggest home lender, said yesterday it was alert to warning signs of a property bubble after the state's red-hot real estate market helped fuel another bumper profit.

[broken link removed]
 
Mr Bowden, 61, said the increase in house prices in such a short time far outweighed the thousands of dollars in stamp duty and taxes in buying and selling the property. He said the property market was so tight that most houses sold before the first public viewing.
"Most people now would just need to advertise their house and it is gone," he said.

"The people who we bought this house from made $100,000 off us, so it's a non-stop cycle."
Click to expand...

Free money, alchemy at last!!!
 
The Daft report is interesting. I've long wondered what the lag is between the prices you see advertised and the ESRI/PermanentTSB figures. Looking at the ESRi figures for last year, house price inflation really started to take off again in October/November while in the DAFT report, it began in August. This suggests that any slowdown won't appear in the ESRI figures for another 2 months at least (and would explain the apparent contradiction that prices are powering ahead in one index while they are flat in the other).

5% drop in the last four months..
 
madisona said:
I think we finally have our equivalant to the 1987 London broom closet.
€300,000 for a toilet.
Click to expand...

And everyone knows what happened then !.
 
gearoidmm said:
Town wants $384k for a pee by the sea

http://www.chinadaily.com.cn/world/2006-08/02/content_655800.htm
Click to expand...
The madness continues. I've seen a few similar in last year in foreign media including a tiny house in dublin 8 that used to be a shed and a tin shed on coast in wicklow somewhere. Meanwhile i was looking at property prices in san diego (an affluent southern californian city with great quality of life,weather etc) and large 2 bed aprtments close to the beach are much cheaper than their irish equivalents despite the state of this country(weather, infrastructure, sustainability of economy, public services)
 
[FONT=Arial,Helvetica,sans-serif]Jaysus, every corner of the globe can't believe it, yet..it's a bargain according politition Martin Conway..

Time this bloody pyramid came crashing down, we are the laughing stock of the rest of the world at this point.
[/FONT]
 
The drop in the number of First Time Buyers due to demographics will start to appear over the next few years, this will probably compound any problems that the property market experiences.

According to a Central Statistics Office report: Between 1991/92 and 2001/02, the total number of pupils in schools in the Republic of Ireland decreased by 100,000

[broken link removed]
 
Two hard-hitting headlines in the Independent today:

"Mortgage holders to struggle as interest rates rise again" and

"Home rate hikes to hit hard today"
 
whathome said:
Two hard-hitting headlines in the Independent today:

"Mortgage holders to struggle as interest rates rise again" and

"Home rate hikes to hit hard today"
Click to expand...

It is hard to fathom why the Indo has become so bearish over the past couple of months, the writing has been on the wall for a much longer period than that
 
beattie said:
It is hard to fathom why the Indo has become so bearish over the past couple of months, the writing has been on the wall for a much longer period than that
Click to expand...

Bad news sells newspapers perhaps? Also they didn't just spend 50 million on a property site ;)
 
Status
Not open for further replies.
Back
Top