RTE 6 News: Property prices

In this piece covering property prices, the increases in Dublin and the situation around the rest of the country we gave a brief comment highlighting that for the first time outside of Dublin there was a year on year sign of stabilisation in prices. Paul Murphy gave some excellent analysis on the topic.

Read More

Boom Bust, house prices, banking, and the depression of 2010 by Fred Harrison (book review)

I have been quite public about my belief in property tax (caveat being we should have far less income tax/levies etc. perhaps a ‘flat tax’ would be best), and if there is one book that has really helped to shape that opinion quite succinctly it is Fred Harrison’s masterpiece on the topic, and the subject of this review ‘Boom Bust‘.

Fred Harrison saw the property crash in the UK of 1989/90 in 1980, and furthermore, he named a date, he also named a date of specifically 2010 (as a bottom, not as the ‘start’ of a crash) in the mid 90’s. How? It is due to his analysis which goes back to the 1500’s of property cycles, and while I am still sceptical about his ’18 year’ cycle, the one thing that fully convinced me was the basis and need for a more rational and working approach to property and taxation of same, or the ‘democratisation …

Read More

Derek Braun vs David Cantwell on the Late Late show

Pat Kenny had two well known commentators on the Late Late show on Friday, David Cantwell a director with the largest new homes estate agent Hooke & MacDonald and Derek Braun author of ‘Irelands House Party’. The section on the show had some interesting debate and both sides had some valid points, some things however were not mentioned – for instance – Braun pointed out that huge profits were made on a certain south side development (and nobody doubts that) but there was no mention of the taxation that is paid via contributions to local councils, VAT, other taxation, paying bubble wages etc.

Cantwell spoke about property prices being at their bottom (granted this is only in his opinion) when considering the supply and other economic factors they clearly cannot be, as well as failing to mention some of the common sense home truths which Braun used to shoot down his arguments.

The only issue I have is that of all the developers I know only one isn’t going into liquidation, in a

Read More

‘Clearance sale, prices 20% off!’, not in shops, on property….

Last week Capel Construction made news when they made a massive reduction in asking price on properties in D15, now more developers are jumping on board both the Albany Group and Abbey Group have reduced asking prices by up to 25% in an effort to get buyers back into the market, I’m sure there is a shortage of smug estate agents ‘taking orders’ for these homes, I think the market is truly at a point where they will have to ‘sell’ these units if they want to shift them. Prices in Holywell (the place where Baiba Saulite was shot) are now at 2005 levels,

The method clearly works as Capel sold 56 units once they dropped the price, so perhaps there is demand out there but its from a public so worried about price falls that they will only purchase if there are considerable reductions in asking price. Personally I don’t believe that some of these prices even represent true value, how will the 56 purchasers feel if the prices get reduced yet again to attract more buyers? They would …

Read More

'Clearance sale, prices 20% off!', not in shops, on property….

Last week Capel Construction made news when they made a massive reduction in asking price on properties in D15, now more developers are jumping on board both the Albany Group and Abbey Group have reduced asking prices by up to 25% in an effort to get buyers back into the market, I’m sure there is a shortage of smug estate agents ‘taking orders’ for these homes, I think the market is truly at a point where they will have to ‘sell’ these units if they want to shift them. Prices in Holywell (the place where Baiba Saulite was shot) are now at 2005 levels,

The method clearly works as Capel sold 56 units once they dropped the price, so perhaps there is demand out there but its from a public so worried about price falls that they will only purchase if there are considerable reductions in asking price. Personally I don’t believe that some of these prices even represent true value, how will the 56 purchasers feel if the prices get reduced yet again to attract more buyers? They would …

Read More