Puff The Magic Wagon!

iTrader: (2)

If you are worried about the value of your house having gone down over the last couple of years, spare a thought for the Irish

http://www.bbc.co.uk/news/uk-northern-ireland-16697242

There's a link to the Irish Office of National Statistics there and it says the price of an average house in Ireland is a 70% of its 2005 value

Wurzel

iTrader: (1)

Hmm might be time to start buying houses in Ireland

Dr Hu

You can buy some sweet houses in Ireland now.... there are whole estates of newly built houses completely empty.... my brother lives in Dublin.... a few years ago (7-10)you had to join a waiting list to buy a house AND buy off plan before they were even built, my bro had to QUEUE at a building site office & hope to get a plot

Now most property in Dublin is unsaleable..... 30% unemployment, zero market confidence, large tax rises, swingeing benefit & council cuts and HUGE, and I mean HUGE negative equity.....

Makes the UK look like a walk in rosy park...

Puff The Magic Wagon!

iTrader: (2)

Why? Unless you are actually wanting to live there!

There is high un-employment, an emigrating population and the country has no or very little money. There is also a mass of empty housing (all looking pretty rubbish and similar) that people are struggling to shift. Prices are still going down and look set to continue. In the meantime, the Gov is introducing housing tax, sceptic tank tax, empty home tax etc etc...

Wurzel

iTrader: (1)

Maybe not then

Fat Boy

Keep it coming Puff - I have a dream about a beach side cottage in the middle of nowhere in Kerry with about 5 acres- just need it to come down another leetle bit

Tragic what has happened, but then they should never have flown so close to the Sun in the first place with the Govt and banks every bit as daft - giving tax breaks/massive loans to build 3rd and 4th houses as long as they were to be used as B+B's - only to be amazed that none of these B+B's ever seemed to have any vacancies...

Nice houses on the coast haven't changed much it's the Barrat style noddy box/executive/Ghost estates that are completely wrecked

Puff The Magic Wagon!

iTrader: (2)

Don't believe it! There's a very tidy old Manse f/s near me that has been unsold for 3 years! The price started high and has since come down masses and still no interest. The other thing to remember is that the Irish don't like interesting (to us) architecture and only build pebble-dashed white bungalows or large boxy houses. They quite often knock down the "nice" stuff & replace with modern boxes

tarmac terror

iTrader: (2)

hmmmm tell me about it.

My house was on the market at £342K in summer 2008. I bought it for just under £290K in November 2008, the same house in the same location, with a single garage, where I have two garages - just changed hands for £199K in December last year.

Bubble well and truely burst, would expect to see a bit more come out of the market yet....

john banks

Some old threads that are interesting in hindsight, especially with reference to Ireland. I remembered the comments at the time and thinking that the rapid growth in Ireland left it highly vulnerable.

I did think when visiting Ireland that there were some rather nice new builds at good prices, unsold, but the rain and lack of suitable employment meant we wouldn't entertain it.

https://www.scoobynet.com/non-scooby...happening.html

https://www.scoobynet.com/650519-hou...s-again-2.html

Markus

A friend at work was back in Dublin over the holiday and was shocked at how grim things are. He was talking to friends and they are all in negative equity and they are working their ***** off to keep up the repayments on places they cannot afford to sell, while wondering all the time if they are about to be let go. Stress isn't the word for it.

I'm sure he said that if you had purchased a place in December you'd have already lost 10 grand.

The ghost estates are an eye opener as well.

It's a bit like some parts of the US, for example, Florida. Silly prices for some pretty nice places as everyone is getting foreclosed on.

Fat Boy

I agree to a large extent James - things are very grim. I only need to look around at my extended family, some of whom are in the building trade, over there to see what they are going through right now. However, it was more the sort of trophy beachside houses that attract international bidders I was talking about - they are still going (slowly, and for less, no question, but still at high levels compared to the more ordinary and less well located housing stock - or at least they are down my neck of the woods).
What is certain is that no Irish bidders are going for these sort of houses.

As for John Banks - too much rain ?! says the man based in Scotland

I have a high flying friend in Dublin who has a house next to the sea in Dalkey with a massive debt (multi - millions) against it and it's currently being valued at about half of what it was originally. He's still earning at the moment, but should that change ...

EddScott

Theres something similar going on in the UK. My mother has a house in Cardiff that we only use infrequently and isn't occupied. She got a letter from the local council saying we've noticed no one lives there and if you don't do something about it we'll put someone in there whether you like it or not!

Stunned is not the word.

She also has a home in Spain that she suspects is in neg equity but its a proper house house on an estate rather than these in the sticks houses that the government can just wander along and demolish without so much as an apology.

I watched a program on the TV about Ireland and how on one day they were doing deals in the millions and the next they were all broke. This one girl was pretty much the only person on an estate and hers was one of the few actually finished. No one wanted the house and it was costing her a fortune.

Its a concern that some UK towns may go the same way.

john banks

Many of the areas I was visiting in Ireland (mainly west coast) had about double the annual rainfall of some of the East coast of Scotland. It seems that the East coast of Ireland is similarly blessed and weather in Dublin was indeed incredible.

I couldn't do the West of Scotland either. The difference between Edinburgh and Glasgow is significant in many ways

Fat Boy

The roles are reversed in Ireland - a lot less culchies on the West Coast

Anyway, ours is only fine soft rain (to be sure ). Oh, and you can keep your midges too The usual saying round my stamping ground in Kerry is " All 4 seasons every half an hour" and that applies all year round

Some mountaintops on Ireland's west coast get 2800mm+ on average, which is loads, but even that pales into insignificance when compared to the West of Scotland where they peak at 4800mm+

Mind you, the wettest holiday I ever had was on Dartmoor in the South of England - while stuck in the cottage for the 5th consecutive day of all day torrential horizontal rain with my by then rabid kids I was idly thumbing through a local guidebook only to read that Dartmoor enjoyed " 10 months of rain, but then rest of the year the weather was bad...". Ba5tards didn't mention that in the holiday brochure!