Irish Property Buyers Handbook 2014

We were pleased to see a mention in the Irish Times of the Irish Property Buyers Handbook 2014 which is now available. We did a chapter on mortgage finance which helps to explain the do and don’t things to consider when looking for [glossary id=’6898′ slug=’mortgage’ /] finance.

The book covers every facet of purchasing a property from starting the search to closing the deal, well done to Carol Tallon for this updated version of the book which will surely help some of this years first time buyers.

Read More

RTE Colm Hayes Show – talking property & our next ‘boom bust’

We spoke to Colm Hayes back at the end of September (forgot to post the piece!); and we talked about the way the property market is going and some of the problems we’ll face.

Read More

Why don’t more buy to let investors sell their properties?

We did some research with Marie Hunt of CBRE and Brian Lucey of Trinity College on ‘buy to let’ investors looking at their behaviour (in the main it’s a behavioural economics piece).

The findings are really interesting and show a few aspects of our market that may not have been widely known such as:

1. The ‘average’ property investor is no tycoon, rather they own 3 properties or less, taken in practice this could be a person who bought a house then moved into a second one when they got married or such.

2. The ‘fallout’ has been extreme, a huge majority have faced losses of greater than 50%.

3. The younger and older are feeling the pain, most of the investors were between age 35 & 65 when they bought, this is slightly older than the commonly perceived ‘negative equity generation’. And the ones who lost jobs (often younger) have shot …

Read More

The Late Debate: Property problems and prices, 1st October 2013

Last night we took part in a conversation on the Late Debate with Audrey Carville to discuss property and some of the issues surrounding it such as mortgages, arrears, price and what some of the challenges are facing both people and the market in general.

Read More

Today with Sean O’Rourke: talking property 27th September 2013

We spoke to Sean O’Rourke about the increased prices in Dublin and what they do or don’t mean, in our opinion it’s a case of a symptom of dysfunction.

Read More

Bank rates, onwards and upwards…

Something that is interesting is how people are amazed that banks are jacking up interest rates at a time like this… In fact, it is precisely because of the time we are in that they are doing it, and due to the market environment they face.

Banks have a choice at any time as to where they will put the money they hold, their job is to turn liabilities (deposits, debt, equity finance) into assets and at present there is a golden window of opportunity where any decent (almost any) assets can be lodged with the ECB and the ensuing liquidity recycled.

For the most part this has helped to support the bond market, part of the LTRO was based on this premise, but in Ireland while bond yields are attractive (still above 5%) mortgage rates are not as attractive. Currently the standard variable is less than 5% meaning a person can borrow for cheaper than the nation they live in is able to!

That won’t last, the likelihood is that sovereign rates …

Read More

Estate agents who may be unqualified?

Edel Morgan has an interesting article in the Irish Times today about estate agents having problems getting their licenses set up – the financial services industry went through the same set of issues nearly ten years ago. New forms, paperwork and bureaucracy always suffer teething problems but on the point below there is an obvious answer:

However one south Dublin estate agent, who declined to be named, said he is worried that he may not meet the requirements for licensing despite nearly 20 year’s experience. He was trading under his own name for less than three years prior to his application and the legislation says that sole traders or independent contractors need to show “evidence that the applicant was the holder of a licence or permit issued under the Auctioneers and House Agents Acts 1947 to 1973 for three of the five years immediately preceding the making of the application.”

In financial services there was a similar problem of people having a long established work record but lacking the specific qualifications that were developed for the …

Read More