Colette Fitzpatrick had a panel in to speak about the property market on Midweek, there was Jim Power (economist), Angela Keegan (MD of MyHome.ie) and Karl Deeter. The discussion looked at the disparity of the urban and rural markets as well as asking whether or not Dublin is in a ‘bubble’.
We were delighted to take part in this months Property Segment on The Morning Show. We were talking about NAMA mortgages and the statistics on lending – are people being refused or not? Martin King and Aisling O’Loughlin were presenting, while Angela Keegan from MyHome and Karl Deeter (from here) were commenting.
Once a month we head over to TV3’s ‘The Morning Show’ to talk with Sybil and Martin about the property and finance markets in an easy to understand manner, this month the topic was NAMA mortgages and household charges.
We were featured on TV3’s ‘The Morning Show with Sybil & Martin’ in a piece they did on the recent Allsops auction. Angela Keegan of MyHome.ie and Karl Deeter of our own company took part.
The general view we have is that if you mark down prices enough then people are willing to buy what they see as value, that means that either prices remain too high or sentiment is such that appetite is not there at the current price level (we suspect the former weighs heavier than the latter!).
We were delighted to take part in the once monthly property slot on The Morning Show with Sybil & Martin on TV3 yesterday, Angela Keegan from MyHome.ie had some interesting numbers on empty units as we covered the supply and demand dynamics of the property market.
Angela Keegan of MyHome.ie wrote an opinion piece in the Sunday Business Post yesterday which included some of our firms commentary:
Figures compiled by Karl Deeter at Irish Mortgage Brokers showed that the size of the average first-time buyer mortgage peaked in the first quarter of 2008, at €251,000.
At the moment, the average drawdown is €188,000. According to Deeter, the ‘average mortgage’ from 2008 on a 2.1 per cent tracker costs €1,076 per month. Current TRS is €80 per month, so the net cost is €996.With the new, bigger TRS in the Programme for Government, the TRS will now be €119, resulting in a monthly payment of €957, an extra saving of €39 per month.
Compare that to the new first-time buyers, who will miss out on TRS. If they take out a loan for €188,000 at 4.3 per cent variable, their cost per month is €1,023.With rates likely to push up over 5 per cent, irrespective of the ECB, Deeter believes that, by this time next year, the divergence between the two mortgages could be as much as …
We were delighted to feature again on TV’s ‘The Morning Show with Sybil and Martin’ (although Brian was sitting in for Martin) on their monthly property slot.
This week we spoke about the necessity of price drops to get a property sold, it is likely the single most important factor, it is also overlooked that there is often a carry cost or opportunity cost loss if sellers don’t drop prices.
Next month we are likely to cover ’empties’, that will be a fascinating show worth tuning in for!