Today’s figures show that Dublin residential property prices increased by 11.2% in the year to May.
Dublin house prices were up 11.5%, while the price of apartments increased by 8%.
The CSO noted that the highest house price growth of 12.4% was seen in South Dublin, while the lowest – 6.8% – was recorded in Fingal.
Meanwhile, residential property prices in the rest of the country jumped 12.8% in the year to March.
House prices outside of Dublin increased by 12.2%, while apartment prices soared by 20.6%.
Oh, that bubble.
But, but Dan said…never mind.
Property prices grow at fastest pace in two years (RTÉ)
Rollingnews
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2164 new houses bought in first five months of 2017. First time buyers bought 455. 890 were bought by non-household investors.
Bravo blushirts, you have now surpassed any damage that bertie did.
This is all by design not by accident. It’s an absolute disgrace.
It is the number 1 issue today.
The again there is a considerable home owning cohort who are delighted to see their house price rising.
It’s disastrous though; as we should know only too well.
@Dav
for sure but also Bertie’s circle, FF & LAB well involved in this design
any stuff getting done now just not meant for ordinary citizens anymore…just Tom Parlon’s mates (see above)
welcome to London everyone
Another fine mess we’ve have found ourselves in.
The carrot isn’t working, we need a big stick.
I wouldn’t be surprised if FG’s main unspoken goal here was to restore house prices to exactly where they were at the peak, bailing out entirely the negative equity generation effectively. A lot of those middle class voters who bought houses in 2002-2008 would be core FG voters now…
It will completely screwing over the current crop of 25-30 year olds, though.
And what’s wrong with that?
Wouldn’t that just be FG looking after FG voters?
Similar to the way SF, AAA, FF declare they would look after their voters?
Self interest over national interest, eh andy? that the fg way? from those that make the “Tough” decisions??? (Well tough on the poor but nice too their rich friends)
If you own a house this is great news. If your a landlord this is great news. For the base of FG and landed interests in general, everything is going to plan.
I finally gave in and bought 2 years ago. This news boils my p1ss though. I don’t understand people who are delighted their house value is going up. You’re still stuck with the same mortgage (although you might get a better LTV at some point). Sell up and you still have to live somewhere at the same higher prices. While everyone else gets shafted. Lunacy
I bought a house 11 years ago and sold it for 100K less than what I paid a decade earlier. Then got another house last year at a price 100k less than what I would have paid for a decade ago. Its just a swap (minus 10k in various fees) because I didn’t like where I lived. The mortgage is 2/5 to 1/3 what I would pay in rent which is some consolation Its mad, I’m still paying the mortgage for the extra 100k. Luckily I love where I live now. If I didn’t Id pack in my sprit crushing job and move to Wales and do the bankruptcy thing. Id advise anyone rotting in an apartment to do that. If a house can get wiped out 100k and at this rate recover to original value in 2025 (twenty years later) then apartment owners are screwed. bought one in 2007/8? your never going to break even when you take into account management companies and dragged up scrotes growing up to the left and right and above and below you bringing the value down. Its never going to get better. public liability insurance? jesus! someone breaks their leg on the stairs . no DCC of county city council to pay from a tax slush fund. Its coming from next years insurance premium added to the annual fees. nightmare!!
If the economy crashes again , will we just shrug our shoulders, like we did last time ? Probably…
We are a peasant people…
Property hot takes for the next 5-10 years. I can’t wait.
Dan! Dan! Dan!
https://youtu.be/NwW3ytid4DA
I’d better sell up and move to South America while there’s still time.
hahaha what a country. I’ve made an absolute fortune since I left and life is a breeze. Women, sun and money.
Where’d you leave to? I like women and money, and I can learn to live with sun.
2007: housing market collapses
2008-10: doom mongers tell us property prices are going to crash 80% from peak and will never ever get anywhere close to peak values again. The world will end and there is a decade or so of excess housing supply. You’d be an idiot to invest in this market as a builder or buyer.
2011-15: construction sector notes this sentiment and builds around 15% (average per annum over the four years) of peak housing supply vs a natural demographic demand 2-2.5x this level. Rent yields hit 7-8% vs mortgage rates of c.4%. Allegedly smart people continue to warn about excess housing supply, how NAMA will lose a fortune, and how (off an incredibly low base) the ‘huge’ property price increases are unsustainable.
2016-17: rapid house price increases continue as the idiot property buyers decide to ignore the informed commentariat, causing demand to continue to far outstrip supply, as people realise its far more financially sensible to buy a house than rent one, and that house prices while being by no means cheap are by no means insanely expensive on most comparative bases despite claims to the contrary.
2018-2025: despite the informed commentariat continuing to insist on there being a bubble, house prices continue to rise at mid to high single digit percentages annually, with mid single digit rent yields and excess demand continuing to outstrip only moderately recovering supply both supporting increased house prices into the next decade.
2025: property prices fall 10% from their new peak which registered in or around the same level seen in 2007. Broadsheet and David McWilliams both bask in the glory of their predictions finally being proven to be suitably and justifiably accurate.
Owen, can you tell me….
do Liverpool win the league any time before 2025?
Don’t get your hopes up, pet.
This has been your Mystic Mildred daily prediction. That’ll be €180.
dunno but I can tell you that Man U won’t
that’s on the house