I'm pretty sure you mean investors? If it's developers, that would mean no new development, which means no extra supply, so prices would actually increase? But there will definitely be an impact on development / constructions, which is no bad thing as these skills in short supply can be diverted to residential development.Major difference now is that developers can't borrow or refinance at 0%.
Yes, I meant landlords/Investors. Where I live here in the "Sticks" it has been nigh impossible to find a tradesman for the last few years as they've all been "busy working in Dublin". Today however it is noticeable the number of them who are floating around here and no longer busy in Dublin - anecdotal evidence but perhaps an indicator of changing times?I'm pretty sure you mean investors? If it's developers, that would mean no new development, which means no extra supply, so prices would actually increase? But there will definitely be an impact on development / constructions, which is no bad thing as these skills in short supply can be diverted to residential development.
A lot of property investors with borrowing have interest rate hedging in place.
It's worth looking at his previous articles. I find him interesting to read, but he's just coming up with the same prediction, but for a different reason this time.
In fairness McWilliams nails his colours to the mast here.Predicts? When? Today? Tomorrow? Next month? Next year? Ten years time? As the saying goes, economic commentators have predicted 12 of the last 3 economic collapses.
Yes - add to that a post covid reluctance of some to go back to offices at all.Major difference now is that developers can't borrow or refinance at 0%.
To be fair, a locked property fund is less of a bad sign than another type of fund.The Irish Life property fund (which is mainly commercial) has been dropping steadily since Aug 22, I believe the fund is currently locked again to stop people tranferring out. (A locked pension fund is never a good sign)
The fund gives a fairly good indication of where the Irish Commercial property market is at, probably with a lag of 3-6 months. https://www.irishlife.ie/investments/fund-details-irish-life-investments/?id=PF8
Its locked because unlike shares property needs time to be advertised for sale on the open market and locking the fund gives time to release funding through portfolio sales. That's the risk you take with property funds though.To be fair, a locked property fund is less of a bad sign than another type of fund.
There are already thousands of residential properties in and around the City West Luas stops, most of the building activity around there since talk of the Luas serving the area has been residential and there's not that much undeveloped land left around there,I wouldn't be surprised to see City West go in the same direction in years to come.
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