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Archive for the ‘House prices In Ireland’ Category

House price index (Permanent TSB/ESRI)

Quarter 1, 2010 – Permanent TSB/ESRI Index crashes 10.3% for Dublin

Today sees the publication of the first Permanent TSB/ESRI QUARTERLY house price index which replaces the old monthly index which was suspended following publication of the December 2009 index because of thin sales. The index published today tells us that the price of residential property has fallen by 4.8% since the end of December 2009 to the end of March 2010, ie an average monthly fall of 1.6%. The indication is that the pace of price falls is easing overall. The average price of a property nationwide is now €204,830. However prices in Dublin crashed 10.3% in the quarter which is worse than the 7.5% fall in Q4, 2009.

The National House Price index stood at 91.0 at the end of March 2010. The last time it was at this level was in November, 2002  when it stood at 91.2. The following shows the index since June 1999 at the end of each quarter (Mar, Jun, Sep, Dec).

The Dublin House Price index stood at 83.0 at the end of March 2010. The last time it was at this level was in June, 2002 when it stood at 83.3. The following shows the index since June 1999 at the end of each quarter (Mar, Jun, Sep, Dec). The average price of a property in Dublin is now €250,872.

The Outside Dublin House Price index stood at 95.9 at the end of March 2010. The last time it was at this level was in March, 2003 when it stood at 96.3. The following shows the index since June 1999 at the end of each quarter (Mar, Jun, Sep, Dec). The average price of a property is now €183,309.

So the key questions : are prices still falling? We don’t know by month but it is certainly the case that prices have continued to fall since December 2009 and the rate of fall between Sep-Dec 2009 (quarter) was 8.5% compared with a fall between Dec 2009 and March 2010 (quarter) of 4.8%.

source http://namawinelake.wordpress.com/2010/04/30/quarter-1-2010-permanent-tsbesr-index-crashes-10-3-for-dublin/

we need reform now!

The current Irish Government are responsible for the financial disaster the country is in,
With the establishment of NAMA the Government is trying to socialize the enormous losses that the Banks and their Developer buddies have encored.
Corruption is rife and now a new monster burocratic system is being created, where X politicians will have jobs for life and the same corrupt developers will be able to manipulate the housing market all over again
While the people are being robbed of their homes, savings, pensions, and education for their children, that same gangsters are running the country
This has to stop!
Join the CAB to-day and get things moving
Come on! Get active in your own area now!
We as a country need new faces and not the same old tired faces that have being around using the system to suite themselves.

I wouldn’t be buying just yet !

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First video Irish minimum wage .

2nd video Irish unemployment

I had to play the videos three times and the story they tell is compelling even if it is not the story one wants to hear!

The fact is we are just too expensive a country to do business in and with .If these figures are correct and I have no data proving otherwise!

I suspect we will have to expect another two years or more of house deflation to bring affordability

Back to the ordinary average workers wages (in line with the rest of Europe)  

Thus bringing average house prices here in Ireland to 60,000 thousand Euros .These videos show me that the Irish Government are in the process of bring down the national average industrial wage let’s say to 25,000 Euro ,the banks will only offer mortgages now of 2.5 times annual wage so this brings the value of the average max mum lone the banks will give to 62,500 Euro .there’s you average house price and that’s where we are heading so if you are in the market for a home I wouldn’t be buying just yet !

Machholz

 video source also  http://thestory.ie/2010/03/09/minimum-wage-and-unemployment/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+thestory%2FQSEJ+%28The+Story%29

 http://www.youtube.com/watch?v=8V9Zx3jcHwM&feature=player_embedded

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