“Asking prices are typically weak as the busy summer trading season peters out and fell in both Q3 2018 and Q3 2019,” said Conall MacCoille, chief economist at Davy who wrote the latest price report.
“After the disruption of the Covid-19 pandemic, the usual seasonal pattern has re-emerged.”
Need to see if this is actually going to continue or if it’s normal
When interest rates keep going up and the mass layoffs start to happen (and they really haven’t yet), things will hit the housing market heavily a few months later.
It’s not as if they can keep going in huge chunks indefinitely. Regular buyers don’t have access to more credit. A lot of people who saved extra money in the lockdown have probably bought by now. Rising interest rates and general uncertainty about a future recession could be having a impact by now as well.
Just keep building houses in line with the population growth. It’s a small country and the problem could be solved if the political will were there. Just looking at rent for instance, if any company wanted to hire staff in any city they’d have major issues unless the people already live there.
The other part of this is that the longer couples rent and don’t buy, the less likely it is they’ll have children (or will do so late). Plenty of people I know want kids but can’t do it because the rental situation is so unstable.
The “any day now house prices will fall/stabilise” has been said since before brexit.
I love how they spin it. If you go onto myhome and check how prices have changed in whatever area you’re interested in, you can see the decreases or increases.
Where we’ve been looking at (Stillorgan down to Wicklow), the amount of decreases is huge compared with any increases. There’s no way we’d buy now.
House prices are falling in Canada. Some economists are predicting this will be a worldwide trend by next year.
Well some do prefer to be fucked slower.
With interest rates skyrocketing are large property holders now exposed to massive risk? Like, if it’s bad for an individual mortgage holder, what happens when you hold 10 or 100? Surely a property crash is inevitable with massive developer insolvencies etc. like 2008?
All grand so. Houses for everyone 😀
leave it to RTE to bury the lead:
> In Dublin the change quarter-on-quarter was a fall of 1.1%
> Nationally the prices being sought fell by 1.3% between July and September compared to the previous quarter
>Outside Dublin, listed prices fell 1% between the second and third quarter,
10 comments
“Asking prices are typically weak as the busy summer trading season peters out and fell in both Q3 2018 and Q3 2019,” said Conall MacCoille, chief economist at Davy who wrote the latest price report.
“After the disruption of the Covid-19 pandemic, the usual seasonal pattern has re-emerged.”
Need to see if this is actually going to continue or if it’s normal
When interest rates keep going up and the mass layoffs start to happen (and they really haven’t yet), things will hit the housing market heavily a few months later.
It’s not as if they can keep going in huge chunks indefinitely. Regular buyers don’t have access to more credit. A lot of people who saved extra money in the lockdown have probably bought by now. Rising interest rates and general uncertainty about a future recession could be having a impact by now as well.
Just keep building houses in line with the population growth. It’s a small country and the problem could be solved if the political will were there. Just looking at rent for instance, if any company wanted to hire staff in any city they’d have major issues unless the people already live there.
The other part of this is that the longer couples rent and don’t buy, the less likely it is they’ll have children (or will do so late). Plenty of people I know want kids but can’t do it because the rental situation is so unstable.
The “any day now house prices will fall/stabilise” has been said since before brexit.
I love how they spin it. If you go onto myhome and check how prices have changed in whatever area you’re interested in, you can see the decreases or increases.
Where we’ve been looking at (Stillorgan down to Wicklow), the amount of decreases is huge compared with any increases. There’s no way we’d buy now.
https://www.reuters.com/world/americas/canada-house-prices-set-sharp-fall-2023-boc-hike-75-bps-sept-7-2022-09-02/
House prices are falling in Canada. Some economists are predicting this will be a worldwide trend by next year.
Well some do prefer to be fucked slower.
With interest rates skyrocketing are large property holders now exposed to massive risk? Like, if it’s bad for an individual mortgage holder, what happens when you hold 10 or 100? Surely a property crash is inevitable with massive developer insolvencies etc. like 2008?
All grand so. Houses for everyone 😀
leave it to RTE to bury the lead:
> In Dublin the change quarter-on-quarter was a fall of 1.1%
> Nationally the prices being sought fell by 1.3% between July and September compared to the previous quarter
>Outside Dublin, listed prices fell 1% between the second and third quarter,