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Wednesday, 8 February 2012

House Prices To Fall By Another Fifth

NCB Stockbrokers said the price of buying a home will fall by at least a fifth in the years ahead as Ireland recovers "from the largest credit and housing bubble in OECD history".

The Dublin-based broker calculated that the eventual national decline from peak to trough will be 60pc.

Average prices have fallen 47pc so far which implies that prices must fall by at least another 20pc before hitting rock bottom.

"The boost from domestic demand will not be material until 2013. Unemployment, currently 14.3pc, will remain above 10pc until 2016," NCB economist Brian Devine warned.

"As such, there should be no surprise that property prices continue to decline, mortgage arrears continue to rise and retail sales remain weak," he said.

Prices in Dublin have already fallen close to this amount with apartment prices in Dublin down 58pc and house prices in Dublin down 54pc.

Mr Devine said he remains worried about the fundamentals underpinning the Irish economy but kept forecasts for GDP growth this year unchanged at 0.3pc or one whole percentage point below the Government's forecast.

Despite this challenge, the stockbroker said the country has showed the characteristics required to put the economy back on the right track.

Earlier, a government adviser said austerity was not working for Ireland. The experience of Ireland and Greece "tells me that austerity doesn't work", said Michael O'Sullivan who is head of research at the Credit Suisse private banking unit and author of 'Ireland and the Global Question'.

Mr O'Sullivan, who has also taught in Oxford and Harvard, was one of eight people appointed as independent members of the National Economic and Social Council by Taoiseach Enda Kenny last November.

"Ireland has had a classic and very big and bad asset price bubble," he said. "That is the cause of our malaise."

Earlier, he said that "Ireland has the additional straitjacket of the eurozone austerity mantra, which for Ireland may have the short-term effect of creating lots of unemployment".

Report by Thomas Molloy - Irish Independent

Tuesday, 7 February 2012

Allsop Space March 2012 Auction Catalogue...

The next Allsop Space Auction will take place on 1st March 2012...
Venue: The Shelbourne Hotel Dublin 2

Online Catalogue:

Lot     Type     Location     Reserve Price will not exceed this figure
1    Investment Flat    Dublin 1    €135,000
2    Investment Flat    Dublin 8    €120,000
3    Investment Leasehold House    Galway City    €75,000
4    Investment Flat    Dublin 8    €90,000
5    Vacant Freehold House    Drogheda    €100,000
6    Vacant Freehold House    Enniscrone    €55,000
7    Vacant Freehold House    Dingle    €50,000
8    Investment Flat    Dublin 1    €175,000
9    Investment Flat    Blackrock    €170,000
10    Investment Flat    Letterkenny    €19,000
11    Investment Flat    Castletroy    €65,000
12    Vacant Freehold Building    Glenamaddy    €30,000
13    Vacant Freehold Building    Arklow    €55,000
14    Vacant Freehold House    Abbeyleix    €100,000
15    Vacant Freehold Building    Wexford    €170,000
16    Investment Flat    Dublin 22    €70,000
17    Investment Leasehold House    Dublin 8    €80,000
18    Industrial    Clifden    €210,000
19    Vacant Freehold House    Bunclody    €25,000
20    Investment Flat    Dublin 1    €135,000
21    Investment Flat    Blackrock    €170,000
22    Vacant Freehold House    Strokestown    €60,000
23    Land/Site    Connemara    €15,000
24    Investment Freehold House    Dublin 7    €100,000
25    Vacant Flat    Dublin 6    €35,000
26    Vacant Freehold Building    Gort    €90,000
27    Investment Flat    Dublin 1    €135,000
28    Vacant Flat    Letterkenny    €20,000
29    Vacant Freehold Building    Bray    €110,000
30    Investment Flat    Limerick    €25,000
31    Investment Freehold House    Cabra    €100,000
32    Vacant Flat    Clifden    €55,000
33    Vacant Flat    Balbriggan    €30,000
34    Investment Freehold House    Harold's Cross    €595,000
35    Office    Dublin 8    €70,000
36    Investment Freehold House    Abbeyleix    €50,000
37    Investment Flat    Enniscorthy    €26,000
38    Investment Freehold House    Blanchardstown    €90,000
39    Vacant Freehold Building    Rossnowlagh    €650,000
40    Investment Flat    Dublin 1    €60,000
41    Land/Site    Bundoran    €10,000
42    Vacant Flat    Letterkenny    €20,000
43    Investment Freehold House    Kilcullen    €100,000
44    Investment Flat    Dublin 1    €185,000
45    Investment Flat    Limerick    €25,000
46    Industrial    Dublin 20    €100,000
47    Investment Freehold House    Hollystown    €50,000
48    Vacant Freehold House    Valentia Island    €35,000
49    Vacant Freehold House    Drogheda    €75,000
50    Investment Flat    Blackrock    €90,000
51    Land/Site    Dublin 1    €20,000
52    Investment Flat    Dublin 8    €90,000
53    Land/Site    Carlow    €10,000
54    Vacant Freehold House    Dublin 1    €35,000
55    Vacant Freehold House    Carrigallen    €7,500
56    Land/Site    Kilfinane    €525,000
57    Land/Site    Kilfinane    €84,000
58    Land/Site    Ennis    €120,000
59    Investment Flat    Dublin 1    €135,000
60    Industrial    Dublin 12    €99,000
61    Vacant Freehold Building    Sallins    €60,000
62    Vacant Freehold House    Drogheda    €75,000
63    Investment Flat    Dublin 1    €135,000
64    Investment Flat    Dublin 8    €90,000
65    Investment Leasehold House    Galway City    €75,000
66    Vacant Freehold House    Enniscrone    €55,000
67    Vacant Freehold Building    Rathvilly    €150,000
68    Investment Flat    Blackrock    €170,000
69    Vacant Freehold House    Abbeyleix    €50,000
70    Investment Flat    Dublin 8    €110,000
71    Office    Dublin 7    €120,000
72    Vacant Flat    Clifden    €55,000
73    Investment Freehold House    Bray    €100,000
74    Investment Flat    Dublin 1    €175,000
75    Office    Clifden    €220,000
76    Vacant Freehold Building    Belturbet    €35,000
77    Investment Freehold House    Crumlin    €90,000
78    Vacant Freehold Building    Duleek    €60,000
79    Investment Freehold House    Dublin 15    €95,000
80    Industrial    Dublin 10    €100,000
81    Vacant Freehold House    Connemara    €70,000
82    Vacant Freehold House    Killybegs    €15,000
83    Investment Freehold House    Glaslough    €50,000
84    Investment Freehold House    Dublin 15    €90,000
85    Investment Freehold House    Enniscrone    €55,000
86    Investment Flat    Dublin 1    €80,000
87    Vacant Freehold House    Lecarrow    €65,000
88    Vacant Freehold House    Cloonfad    €35,000
89    Investment Flat    Navan    €31,500
90    Vacant Freehold Building    Carrick on Shannon    €60,000
91    Investment Freehold Building    Dublin 7    €610,000
92    Vacant Freehold House    Dublin 11    €60,000
93    Investment Flat    Dublin 1    €135,000
94    Investment Flat    Dublin 22    €50,000
95    Investment Flat    Dublin 8    €100,000
96    Vacant Leasehold House    Portlaoise    €10,000
97    Investment Freehold House    Drominahilla    €70,000
98    Vacant Flat    Blackrock    €170,000
99    Investment Flat    Dublin 8    €90,000
100    Investment Flat    Dublin 1    €185,000
100 Lots sorted by Lot Number    Lots: 1-100