This just means the Covid savings have been exhausted. Supply is still restricted and prices will still rise, just slower than the last year.
If inflation continues to hit and materials prices continue to be volatile then new builds will slow down and supply restricted even further causing greater competition for fewer houses causing prices to rise again.
Using year on year is not the best. Month on month gives far better indicator of the short term movement.
Interest rates are going to cause house prices to fall. For all those who say house prices won’t fall, people said the same thing about Canada, NZ and Oz. Just like the housing shortage was global, why would Ireland buck the trend globally with real estate dropping?
Interest rates are to asset prices what gravity is to matter – Warren Buffet
I forgot to add, if there are any economic shocks where jobs are harder to come by or whatever, then there’ll be foreigners leaving. And they’re pretty much the ones putting the huge pressure on supply at the minute. Go look at any house viewings or look at any of the ads in the Dublin accommodation groups on facebook and nearly all the comments or tags will be foreigners. Not blaming them, just stating the situation. A lot of these have nothing tying them to Dublin so they’ll easily leave if they struggle for work. A reminder that from April 2009-April 2010, 75% of emigrants were non nationals.
What goes up (^and ^^up ^^^and ^^^^up^^^^) must come down. Just a matter of when & how bad.
Ah so house prices are still rising, but rising slower. Good to know 😒
People have reasons to be cautious. Inflation out of control, interest rates set to rise, uncertainty in the economy over fears of a recession. Add to this that property prices have been rising steadily for a couple of years now. Supply is still an issue but people can only pay so much for a house. Part of this slow down in the rate of increase might just be that prices are hitting against the limits of what most home buyers are capable of paying. The Central Bank rules makes that fairly consistent across income bands even allowing for high savings or family gifts. Each economic cohort is reaching the limit, I would say.
FFG will be concerned that is beginning to slow. I’m sure they will be devising new and better ways of increasing the prices!
How accurate are these daft reports? They say that they combine their data with the property price register. Why report on asking prices at all when you have the actual sale price on the register?
Once they start using the second derivative of something to try to paint it as good news, it’s over.
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This just means the Covid savings have been exhausted. Supply is still restricted and prices will still rise, just slower than the last year.
If inflation continues to hit and materials prices continue to be volatile then new builds will slow down and supply restricted even further causing greater competition for fewer houses causing prices to rise again.
Using year on year is not the best. Month on month gives far better indicator of the short term movement.
Interest rates are going to cause house prices to fall. For all those who say house prices won’t fall, people said the same thing about Canada, NZ and Oz. Just like the housing shortage was global, why would Ireland buck the trend globally with real estate dropping?
Interest rates are to asset prices what gravity is to matter – Warren Buffet
I forgot to add, if there are any economic shocks where jobs are harder to come by or whatever, then there’ll be foreigners leaving. And they’re pretty much the ones putting the huge pressure on supply at the minute. Go look at any house viewings or look at any of the ads in the Dublin accommodation groups on facebook and nearly all the comments or tags will be foreigners. Not blaming them, just stating the situation. A lot of these have nothing tying them to Dublin so they’ll easily leave if they struggle for work. A reminder that from April 2009-April 2010, 75% of emigrants were non nationals.
What goes up (^and ^^up ^^^and ^^^^up^^^^) must come down. Just a matter of when & how bad.
Ah so house prices are still rising, but rising slower. Good to know 😒
People have reasons to be cautious. Inflation out of control, interest rates set to rise, uncertainty in the economy over fears of a recession. Add to this that property prices have been rising steadily for a couple of years now. Supply is still an issue but people can only pay so much for a house. Part of this slow down in the rate of increase might just be that prices are hitting against the limits of what most home buyers are capable of paying. The Central Bank rules makes that fairly consistent across income bands even allowing for high savings or family gifts. Each economic cohort is reaching the limit, I would say.
>says [Daft.ie](https://Daft.ie)
lol
FFG will be concerned that is beginning to slow. I’m sure they will be devising new and better ways of increasing the prices!
How accurate are these daft reports? They say that they combine their data with the property price register. Why report on asking prices at all when you have the actual sale price on the register?
Once they start using the second derivative of something to try to paint it as good news, it’s over.
Titanic sinking a bit slower