We are pleased to release our new Irish Property Investor Report for the Spring of 2010 (click on the picture to view it). The people that put it together this time were Frank Quinn (IPAV), Lecturer in Valuations at Senior College Dun Laoghaire and Irish Mortgage Brokers.
The property figures were provided by PropertyWeek.ie (who also run a non-practitioner site at MyHat.ie) and a critique of the report and methodology (which we deemed necessary in the spirit of balance) was carried out by Iain Nash.
The news is not positive, we have determined, using our valuation methods; that property as an investment is still unattractive in the spring of 2010, in order for it to make sense prices would need to fall significantly in our major cities in the range of about 39% on average.
Having said that, this report looks at averages and it can’t factor in the individual properties on the market, for that reason it is highly likely that there are great deals out there – they just don’t come through when looking at market averages. Iain Nash also has some good reasoning on why the type of analysis we have done falls short of being ideal in several ways, but in a strange twist, he agrees with our figures, just not to the manner in which we arrived at them!
We hope you enjoy our report and would welcome any further critique any our readers may have upon our findings.