Tuesday, 29 January 2008

Irish Property Market Video

Irish Property Market...Fact is Fiction & TV Reality?

I love this!...A mockumentary video, used to promote a new property website for Ireland. This video fooled both the national broadcaster and city officials!

Irish Property News - House Prices 2008

More good news today? (...well for hopeful home buyers anyway!)

Irish House prices look set to fall by at least 5pc in 2008.

This is according to Austin Hughes (an IIB group Homeloans economist,) during a presentation on the housing market outlook in Ireland for 2008.

He also added..."The housing slowdown has been a good bit more severe than I had anticipated."

Monday, 28 January 2008

Ireland: A Top Place To Live In!...

Although the property market is totally daft, Ireland is still a top place to live in...Amazing!

And this is official:

It's the No. 5 place to live in worldwide as choosen by the UN for 2007-2008

Sunday, 27 January 2008

Irish Sunday Morning Newspapers - Ireland Property News

Just browsing through the Irish Newspapers this morning while enjoying my coffee...

Plenty Property News for Ireland...Typical headlines today are:

"What's your house worth now?"

"Prices drop as buyers wait it out"

"Southside sales don’t escape downturn"

"Price of Limerick homes drop"

"Reduced price to spark interest in D6 home" (A bargain now at only €5.5 million - was €6 million!)

"Property price rises wiped out by 10pc fall in market"

"House prices down €18,000 on average"

"Price cuts may trigger domino effect"

"Finding affordable townhouse is mission impossible"

"Homebuyers opting out of sales now face losing deposits"

Sunday, 20 January 2008

Video - Flying through Ireland, "The Emerald Isle":

Hey I really like this video - Check it out & discover Ireland, "The Emerald Isle":

Wednesday, 16 January 2008

Ireland Land of Myths & Legends...The Irish Property Story...

Ireland Property - Daft Property!

"There are two tellings to every story"...

Story 1 is the average punters view:
House prices in Ireland are dropping dramatically..."For Sale" signs are springing up everywhere like some prolific new species (albeit genetically modified.) The buy property and become rich fantasy is fading fast into the mists, like so many other myths and legends. For some negative equity is now a reality. The building industry is crumbling. Unemployment rising. Repossessions increasing...

Story 2 is the vested interests view:
The Irish property market is only adjusting slightly...There's no need for panic...The prices drops are good for homeowners as they will produce a more balanced and stable market. There's now good value for buyers etc.

"A little of anything isn't worth a pin; but a wee bit of sense is worth a lot"...

Property Bubble?

The Irish property market has enjoyed unprecedented growth every year since 1993. To start with it was a simple case of supply and demand. A strong economy (the Legendary Celtic Tiger) fuelled the demand for property. Since 2000, approximately 75,000 housing units have been built every year but now a significant proportion of these new homes are unoccupied.

Building has stalled and unemployment is now rising (especially in the construction industry.)

Price Crash?

Ireland is one of the most expensive places to buy property in Europe. However with the market oversupplied, since 2007, property prices have been dropping fast. Fact.

These price drops have had little effect on the affordability for many buyers though, as lower prices have been offset by higher mortgage rates.

Myths & Legends?

Ireland has lost it's Celtic Tiger or was it a Celtic Werewolf?...

"Time is the great story teller"so ultimately only time will tell!