Newstalk: Jonathan Healy talks to Irish Mortgage Brokers about rapid price rises

Jonathan Healy spoke to Karl Deeter about the rapid house price appreciation in the nation in general and Dublin in particular.

The issue of too many constituencies all wanting different things came up as did some of the other aspects of the market, the main one of which is that we are showing the early symptoms of a housing crisis.

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The Dublin property market in a word… Farcinating

I looked up ‘farcinating’ because it’s a mash of ‘farcical’ and ‘fascinating’. Thankfully the internet always delivers.

How prices in Dublin can go up 8% YoY when the market is half cash beggars belief. It’s a false signal, if and when we are wrong about this we’ll apologise, but let’s take a look at some key issues that support this view.

1. Put a blank county & address search into the Property Price Registry for 2013 and you’ll find that there were 13,320 transactions this year. At the same time the IBF/PWC data indicate that there was 5,297 mortgages drawn down this year. That would indicate a market that is transacting in cash to the tune of 60% or more. (clear issue being late registration could mean some 2012 transactions crept into 2013 but probably not enough to fundamentally change this point).

2. Something that mainstream commentary has missed out on is that the ‘low supply’ in Dublin is …

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