Daft Property - Irish Property News

Rising house prices lift 45,000 out of negative equity... Rising property prices, particularly in Dublin, are lifting thousands of households out of negative equity, according to new research. A study by the Economic and Social Research Institute (ESRI) calculated that recovery in house prices last year alone reduced the number of mortgage loans in negative equity by 15 per cent. Based on mortgage data obtained from the Department of the Environment and theIrish Banking Federation, the institute estimated that the total number of mortgage loans in negative equity peaked at 314,000 in late 2012. Coalition can meet deficit target with adjustment of only €200m, says Ibec Property price growth last year – which saw values rise by nearly 16 per cent in Dublin and 6 per cent nationally – reduced this number by approximately 45,000. At this rate, the ESRI is predicting the number of households in negative equity will have fallen by 43 per cent by the end of the year from its...

The great property scam is back to rip us off again... They're back! The creeps, the snake-oil salesmen and spoofers who condemned a generation to negative equity are cheerleading again. The advertisers are salivating too because the "property porn" industry sees a chance to sell its fantasy again. The papers are once more displaying "dream homes" replete with doctored photographs and Mediterranean blue skies -- all at "knock down" prices. It's time to buy again, or so I'm reliably told by those who were so reliable last time that they gave us NAMA! I am not saying that property won't recover ever, of course it will; but not from here. Irish property is still extortionately expensive. It is expensive not just on a comparative basis but, more crucially, it is expensive on the basis of what is happening in the economy. Any government that is urging people to buy houses right now clearly has no intention of learning anything from the mistakes ...