Anyone see the artical on the papers today where the OECD has said that houses in Ireland are overpriced by 15%.
Seemly the Central Bank acknowledged this too!
What do you think?
I suppose this is better news for people who are about to buy but not so good for people who have already bought?
Anyone see the artical on the papers today where the OECD has said that houses in Ireland are overpriced by 15%.
Seemly the Central Bank acknowledged this too!
What do you think?
I suppose this is better news for people who are about to buy but not so good for people who have already bought?
There are a lot of factors in this to consider. Prices are 15% overpriced because people are willing to pay those prices. Are those behaviours going to change in the short term? I dont think so.
Dublin may be 15% or more overpriced but the demand is so high there is no way prices will decrease.
I don't think we need the OECD to tell us that people are paying maybe €400,000 for a house that cost €150,000 to construct taking into account the price of the labour, land and materials.