Six property experts discuss the state of the Irish property market and their predictions for 2014. They found that demand increased significantly in 2013, especially for family homes in Dublin. Prices rose faster than expected in Dublin and other cities due to low supply and high cash buyer activity. Experts were disappointed by the lack of new housing construction and limited bank lending. They predict prices will continue rising in Dublin in 2014, especially if employment improves, but cash buyers alone cannot sustain the market long-term without increased mortgage lending. Experts call for more housing construction and solutions to negative equity issues to ensure a balanced recovery.
This document summarizes an investment outlook letter written by Bill Gross of PIMCO. The letter discusses how central banks and governments use "haircuts" as a hidden way to reduce debt levels and transfer wealth. It identifies four main types of haircuts: (1) negative real interest rates, (2) inflation/currency devaluation, (3) capital controls, and (4) outright default. While assets may appear to be "money good," the letter argues they are not truly "good money" due to these haircuts reducing purchasing power over time. It recommends gradually reducing risk in portfolios in 2013 to avoid excessive haircuts.
Archive issues of The Brief produced by IPIN Global - https://www.ipinglobal.com/join.aspx - a regular member-only newsletter with the latest commentary on the property investment markets.
To get the latest copies as they are produced - sign up on site.
According to a variety of reported opinions, it’s Brisbane’s time to shine. The city has seen a stop- start-stagnate property market for close to a decade, with myriad factors (floods, unit oversupply, high unemployment, global pandemic) keeping our values
Investors are sometimes a hard-put-upon group, but there’s no denying they have a huge effect on our property markets. This month, our offices discuss how investors are operating in their markets, and what an investor slowdown might mean in their service area..............
The document discusses concerns about the Chinese real estate market and economy. A real estate developer collapsed in Ningbo, and home price increases are slowing. With real estate contributing greatly to China's GDP, a slowdown could impact the broader economy. Housing sales are unlikely to continue at the high growth levels of recent years due to tighter credit, affordability issues, and government curbs. While short-term outlook is dampened by volatility, long-term demand drivers like urbanization should support the market.
Apartment approvals plunged by nearly 40% in January (the weakest monthly result in 5 years) comes to the news that first home buyers are making a comeback
The document provides an overview of the commercial real estate market in February 2013. It discusses trends in the retail sector across various Australian regions, noting weaker retail sales growth, increased vacancy rates, and pressure on rental rates in many areas. The outlook for 2013 is cautious, with continued challenges expected from the economic environment and consumer spending.
Bob Grant provides a summary of comments made by Jeffrey DeBoer to Congress about the struggling state of the commercial real estate industry. Key points include: refinancing capacity presents an ongoing risk to property values as $300-500B in commercial real estate loans will mature annually through 2020; capitalization rates have increased 250 basis points while rents have declined 20% depending on property type; the lack of transactions makes it hard to accurately value properties; and regulatory flexibility is needed to restructure loans and allow banks to extend performing loans based on cash flow to avoid foreclosures. Michigan in particular continues to struggle more than other states with industrial vacancies over 13% and expected retail vacancy increases of 2% and rent declines of 4%
This document summarizes an investment outlook letter written by Bill Gross of PIMCO. The letter discusses how central banks and governments use "haircuts" as a hidden way to reduce debt levels and transfer wealth. It identifies four main types of haircuts: (1) negative real interest rates, (2) inflation/currency devaluation, (3) capital controls, and (4) outright default. While assets may appear to be "money good," the letter argues they are not truly "good money" due to these haircuts reducing purchasing power over time. It recommends gradually reducing risk in portfolios in 2013 to avoid excessive haircuts.
Archive issues of The Brief produced by IPIN Global - https://www.ipinglobal.com/join.aspx - a regular member-only newsletter with the latest commentary on the property investment markets.
To get the latest copies as they are produced - sign up on site.
According to a variety of reported opinions, it’s Brisbane’s time to shine. The city has seen a stop- start-stagnate property market for close to a decade, with myriad factors (floods, unit oversupply, high unemployment, global pandemic) keeping our values
Investors are sometimes a hard-put-upon group, but there’s no denying they have a huge effect on our property markets. This month, our offices discuss how investors are operating in their markets, and what an investor slowdown might mean in their service area..............
The document discusses concerns about the Chinese real estate market and economy. A real estate developer collapsed in Ningbo, and home price increases are slowing. With real estate contributing greatly to China's GDP, a slowdown could impact the broader economy. Housing sales are unlikely to continue at the high growth levels of recent years due to tighter credit, affordability issues, and government curbs. While short-term outlook is dampened by volatility, long-term demand drivers like urbanization should support the market.
Apartment approvals plunged by nearly 40% in January (the weakest monthly result in 5 years) comes to the news that first home buyers are making a comeback
The document provides an overview of the commercial real estate market in February 2013. It discusses trends in the retail sector across various Australian regions, noting weaker retail sales growth, increased vacancy rates, and pressure on rental rates in many areas. The outlook for 2013 is cautious, with continued challenges expected from the economic environment and consumer spending.
Bob Grant provides a summary of comments made by Jeffrey DeBoer to Congress about the struggling state of the commercial real estate industry. Key points include: refinancing capacity presents an ongoing risk to property values as $300-500B in commercial real estate loans will mature annually through 2020; capitalization rates have increased 250 basis points while rents have declined 20% depending on property type; the lack of transactions makes it hard to accurately value properties; and regulatory flexibility is needed to restructure loans and allow banks to extend performing loans based on cash flow to avoid foreclosures. Michigan in particular continues to struggle more than other states with industrial vacancies over 13% and expected retail vacancy increases of 2% and rent declines of 4%
Six property experts discuss the state of the Irish property market and their predictions for 2014. They found that demand increased significantly in 2013, especially for family homes in Dublin. Prices rose faster than expected due to low supply and high cash buyer activity. Experts were disappointed by the lack of new construction and limited bank lending. Most predict further price increases in Dublin of 10-15% in 2014, fueled by employment growth, but note the market depends on increased supply and credit availability longer term.
El documento resume un estudio geológico realizado en un área de 30000m2 en la región de Tacna, Perú. El estudio incluyó mapeo geológico de la zona e identificación de las formaciones geológicas presentes, incluyendo Formación Socosani y Formación Labra. Se encontraron estructuras sedimentarias como estratificaciones y alteraciones hidrotermales. El objetivo fue caracterizar la geología de la zona a escala 1:1000 e interpretar las ocurrencias geológicas a lo largo del tiempo.
El documento presenta una guía interactiva de un pueblo que incluye secciones sobre la historia del tren, festividades tradicionales, gastronomía, monumentos, leyendas, el mercado y el tranvía. El lector puede hacer clic en flechas para navegar entre las diferentes secciones de la guía y obtener más información sobre los aspectos culturales y lugares de interés del pueblo.
The survey of members of the Society of Chartered Surveyors Ireland (SCSI) shows that the residential property market improved in 2013, with over 80% of surveyors reporting increased sales activity. Prices rose significantly in Dublin, by around 15.7%, but changes varied regionally. Supply constraints, particularly a lack of family homes, were noted as a challenge. While mortgage finance availability improved somewhat, cash transactions remained common due to issues like negative equity. Surveyors expected moderate further price increases in Dublin in 2014 if supply issues are addressed, but more subdued performance regionally.
RealtyTrac's January 2015 Housing News Report has some great information to kick off the new year.
Highlights Include:
“Five Economists Forecast the 2015 Housing Market,” by Housing News Report Staff
“A Slightly More Optimistic Outlook for Homebuilding,” by Mark Vitner, Wells Fargo
“Chicago: A Tale of Two Cities,” by Octavio Nuiry, Managing Editor
“House of Outrageous Fortune,” by Michael Gross, reviewed By Octavio Nuiry, Managing Editor
Top 20: Foreclosure Rates in the Nation's 20 Largest Metros in December 2014
This document provides a summary of the UK residential property market for Autumn/Winter 2014. It discusses trends in different London property markets like Prime Central London, Outer Prime London, and the Super Prime market. It also looks at property trends outside of London, in areas like cathedral cities and market towns. The document discusses factors like economic conditions, interest rates, transaction volumes, house price growth, rental values, and supply issues that may impact the market in the coming year.
The document summarizes real estate trends in Dublin, Ireland in the first half of 2013. It finds that the Dublin property market is strengthening with residential property sales up 15% and average home prices rising 9.4% compared to the first half of 2012. However, supply remains constrained, limiting further price increases. While demand is improving as buyers return, many homeowners remain unwilling to sell, perpetuating the lack of inventory. The summary also notes that mortgage lending is increasing but uncertainty remains, and a full market recovery is not expected.
Dylan Simon - 5 Predictions for Apartment Investment in 2014Dylan Simon
Seattle has proven itself as one of the nation's leading apartment markets. This article discussed five predictions for the apartment investment community for 2014.
Property professional Jamie Lester discusses the Fulham property market, post 2013 Budget. Is 2013 a good time to move out of London? What next for house prices? Is 2013 a good time to sell in Fulham?
Property professional Jamie Lester discusses the Chiswick property market, post 2013 Budget. Is 2013 a good time to move out of London? What next for house prices? Is 2013 a good time to sell in Chiswick?
Pinstat is a new online service that aims to make finding a home easier by combining useful information about neighborhoods with a user's criteria and interests. It allows users to search for their dream home and neighborhood in one convenient location. The document discusses how Pinstat works and the problems it aims to solve related to the current housing search process. It also outlines Pinstat's business model and marketing strategy to target both homeowners and real estate agents.
The document summarizes the UK residential property market for summer 2015. It discusses:
1) The UK housing market is entering a period of stability following the Conservative election victory and is expected to see more homes built to address undersupply.
2) The document analyzes different property markets in London, as well as farmhouse and country house markets outside London, noting differing values and rental growth.
3) Affordability remains an issue, especially in London, and the Help-to-Buy scheme is questioned in terms of boosting new home supply.
The document provides an overview of the UK residential property market in winter 2015. It notes that house prices are up nearly 5% on last year and rental yields are predicted to reach 6.5-8% in regional markets over the next five years. However, transaction volumes remain low due to limited housing stock and changes to policies like stamp duty that have negatively impacted the market. The article examines factors constraining supply such as attitudes towards property ownership and issues with trading properties. It also analyzes house price and sales trends in different areas.
Archive issues of The Brief produced by IPIN Global - https://www.ipinglobal.com/join.aspx - a regular member-only newsletter with the latest commentary on the property investment markets.
Six property experts discuss the state of the Irish property market and their predictions for 2014. They found that demand increased significantly in 2013, especially for family homes in Dublin. Prices rose faster than expected due to low supply and high cash buyer activity. Experts were disappointed by the lack of new construction and limited bank lending. Most predict further price increases in Dublin of 10-15% in 2014, fueled by employment growth, but note the market depends on increased supply and credit availability longer term.
El documento resume un estudio geológico realizado en un área de 30000m2 en la región de Tacna, Perú. El estudio incluyó mapeo geológico de la zona e identificación de las formaciones geológicas presentes, incluyendo Formación Socosani y Formación Labra. Se encontraron estructuras sedimentarias como estratificaciones y alteraciones hidrotermales. El objetivo fue caracterizar la geología de la zona a escala 1:1000 e interpretar las ocurrencias geológicas a lo largo del tiempo.
El documento presenta una guía interactiva de un pueblo que incluye secciones sobre la historia del tren, festividades tradicionales, gastronomía, monumentos, leyendas, el mercado y el tranvía. El lector puede hacer clic en flechas para navegar entre las diferentes secciones de la guía y obtener más información sobre los aspectos culturales y lugares de interés del pueblo.
The survey of members of the Society of Chartered Surveyors Ireland (SCSI) shows that the residential property market improved in 2013, with over 80% of surveyors reporting increased sales activity. Prices rose significantly in Dublin, by around 15.7%, but changes varied regionally. Supply constraints, particularly a lack of family homes, were noted as a challenge. While mortgage finance availability improved somewhat, cash transactions remained common due to issues like negative equity. Surveyors expected moderate further price increases in Dublin in 2014 if supply issues are addressed, but more subdued performance regionally.
RealtyTrac's January 2015 Housing News Report has some great information to kick off the new year.
Highlights Include:
“Five Economists Forecast the 2015 Housing Market,” by Housing News Report Staff
“A Slightly More Optimistic Outlook for Homebuilding,” by Mark Vitner, Wells Fargo
“Chicago: A Tale of Two Cities,” by Octavio Nuiry, Managing Editor
“House of Outrageous Fortune,” by Michael Gross, reviewed By Octavio Nuiry, Managing Editor
Top 20: Foreclosure Rates in the Nation's 20 Largest Metros in December 2014
This document provides a summary of the UK residential property market for Autumn/Winter 2014. It discusses trends in different London property markets like Prime Central London, Outer Prime London, and the Super Prime market. It also looks at property trends outside of London, in areas like cathedral cities and market towns. The document discusses factors like economic conditions, interest rates, transaction volumes, house price growth, rental values, and supply issues that may impact the market in the coming year.
The document summarizes real estate trends in Dublin, Ireland in the first half of 2013. It finds that the Dublin property market is strengthening with residential property sales up 15% and average home prices rising 9.4% compared to the first half of 2012. However, supply remains constrained, limiting further price increases. While demand is improving as buyers return, many homeowners remain unwilling to sell, perpetuating the lack of inventory. The summary also notes that mortgage lending is increasing but uncertainty remains, and a full market recovery is not expected.
Dylan Simon - 5 Predictions for Apartment Investment in 2014Dylan Simon
Seattle has proven itself as one of the nation's leading apartment markets. This article discussed five predictions for the apartment investment community for 2014.
Property professional Jamie Lester discusses the Fulham property market, post 2013 Budget. Is 2013 a good time to move out of London? What next for house prices? Is 2013 a good time to sell in Fulham?
Property professional Jamie Lester discusses the Chiswick property market, post 2013 Budget. Is 2013 a good time to move out of London? What next for house prices? Is 2013 a good time to sell in Chiswick?
Pinstat is a new online service that aims to make finding a home easier by combining useful information about neighborhoods with a user's criteria and interests. It allows users to search for their dream home and neighborhood in one convenient location. The document discusses how Pinstat works and the problems it aims to solve related to the current housing search process. It also outlines Pinstat's business model and marketing strategy to target both homeowners and real estate agents.
The document summarizes the UK residential property market for summer 2015. It discusses:
1) The UK housing market is entering a period of stability following the Conservative election victory and is expected to see more homes built to address undersupply.
2) The document analyzes different property markets in London, as well as farmhouse and country house markets outside London, noting differing values and rental growth.
3) Affordability remains an issue, especially in London, and the Help-to-Buy scheme is questioned in terms of boosting new home supply.
The document provides an overview of the UK residential property market in winter 2015. It notes that house prices are up nearly 5% on last year and rental yields are predicted to reach 6.5-8% in regional markets over the next five years. However, transaction volumes remain low due to limited housing stock and changes to policies like stamp duty that have negatively impacted the market. The article examines factors constraining supply such as attitudes towards property ownership and issues with trading properties. It also analyzes house price and sales trends in different areas.
Archive issues of The Brief produced by IPIN Global - https://www.ipinglobal.com/join.aspx - a regular member-only newsletter with the latest commentary on the property investment markets.
Home sales in the California housing market slowed in 2014 compared to 2013, as the market moved away from being dominated by investors to a more balanced market between buyers and sellers. Looking ahead to 2015, the housing market is expected to continue stabilizing as inventory increases, competition from investors decreases, and prices and mortgage rates rise gradually. The California Association of Realtors predicts that home sales will increase 5.8% in 2015 while median home prices rise 5.2% and mortgage rates average around 4.5%, reducing housing affordability slightly compared to 2014.
- The document summarizes recent news and developments in the UK and Asia Pacific property markets.
- It reports that UK property prices have grown three times faster than salaries over the past decade, putting homeownership out of reach for many. However, new home sales and prices in the UK have increased despite the slow housing market.
- Commercial property investment volumes in Asia Pacific increased 26% year-over-year in Q2 2012, though leasing activity declined, suggesting the region is not completely immune from economic uncertainties.
This report provides a summary of global real estate market trends in the second quarter of 2013. The key points are:
1) Real home prices strengthened year-over-year in most countries surveyed, led by gains in the US and UK as monetary policy easing supports demand.
2) Canadian housing activity remains buoyant due to low interest rates, but fundamentals are becoming less favorable as job growth slows. Condo overbuilding is a concern in major cities like Toronto.
3) Several European markets like the UK are showing signs of recovery, while conditions remain weak in southern Europe with high unemployment in countries like Spain and Ireland.
4) Asian property markets are mixed, with strong growth continuing
The strong positive momentum seen in European commercial real estate lending throughout 2014 showed no signs of abating during the first quarter of 2015. In a sector characterised by a high volume of investment deals, debt was widely available from a variety of lenders including banks, institutional investors and private equity funds.
Our team completes a monthly report summarising sales volume, price per square metre rates and agent insights. To subscribe email sdodimead@blackshaw.com.au or text your email address and 'subscribe' to 0406 226 428.
- The document discusses several topics related to investments and the London property market from the Summer 2016 issue of a magazine called Avantis Wealth.
- The first article analyzes whether the London property market is set to crash, noting that prices in London have skyrocketed since 2008 while remaining below peak levels in other parts of the UK. It argues oversupply of high-end properties in London combined with policies discouraging foreign buyers means a correction may be coming.
- The second piece discusses investment opportunities that are not correlated to the London property market, such as investments in care homes, German residential developments, and international resort properties, that typically offer fixed annual returns between 6-12%.
- The third section
The document summarizes the key findings of Colliers International's 2014 Global Investor Sentiment survey regarding real estate investment in Asia:
1) Most Asian investors believe Asia's property markets will improve over the next year and investment volumes will increase modestly.
2) Asian investors primarily source capital from within Asia and focus their investments on the region, especially China and Singapore. The top cities for investment are Singapore, Mumbai, Shanghai, Tokyo, and Hong Kong.
3) Office developments in central business districts remain the most popular property sector among Asian investors. Economic cooling measures in some Asian markets are not expected to significantly deter investors.
Avison commercial office leasing market report toronto 2014Chris Fyvie
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Mail on Sunday 15 December property review and 2014 prediction
1. Date 15 December 2013
Page 44,53
Six property experts take the market’s
temperature and prescribe their own routes to recovery
Prices will rise in 2014 but
t
banks must start lending
ALAN
MCQUAID
Economist, Merrion Capital
What we found out about
the property market last
year:
That Irish people are still in
love with property despite
the huge crash in recent years and
many people overseas see good
value in Irish real estate at the
moment if the anecdotal stories of
strong international interest from
the likes of China and Russia are to
be believed. There also appears to
be a lot of money floating around
with a significant amount of transactions being taken up by cash.
Biggest change I saw in 2013:
The pick-up in the property
market was quicker and more sustained than I had expected and it
looks like there will be an overall
increase in prices for the first time
in six years, when most analysts
were talking about another year of
decline at the start of 2013.
Buoyed up by:
Clearly buoyed up by a lack of supply of houses, particularly in the
Dublin area; demand for more
family homes; a large element of
cash buyers and an improvement
in the labour market.
i
i db
Q
A
Disappointed by:
The number of mortgage buyers
appears to be low, which raises a
question about credit availability.
Banks are saying they are lending, so it may be more of a demand
than supply issue. Given the time
it takes to go through the whole
mortgage process, I suppose it
should be no great surprise that a
vendor faced with two prospective buyers (one with cash and the
other with a mortgage) is opting
for the cash buyer the vast majority
of the time. Some individuals/couples may therefore feel it is a waste
of time looking for a mortgage at
this juncture. But I don’t see there
being an endless amount of cash
buyers, so something will have to
give in the end.
Lessons we still have to learn:
Prices can go down as well as
up and low interest rates cannot
last forever. That said, I don’t see
the European Central Bank hiking rates until 2015 at the earliest
which is good news for those on
tracker mortgages. However, irrespective of what the ECB does,
those on variable rate mortgages
will still be at the mercy of the individual banks.
One thing I’d like to see in
2014:
This could be a change in bank-
ing policy re trackers (or whatever
ld
b l
d
d
would create a balanced and
healthy market). Those on variable rate mortgages cannot go
on forever subsidising those on
a tracker mortgage. However, it
is hard to see an easy solution to
this. I would also like to see a more
general recovery in the property
market than simply just Dublin
and the other major cities. The
worry is that rural Ireland will be
left behind and we will have an
unhealthy urban/rural divide.
My predictions for next year:
Looking forward, it is hard to see
how house prices can keep on
rising indefinitely without the
banks returning to more ‘normal’
lending practices and making
credit more freely available than
at the moment. The market cannot
survive on mainly cash transactions and only limited mortgage
draw-downs.
Still, the supply issue notwithstanding, the big driver in my view
over the next 12 months or so will be
disposable income and in particular
employment prospects. The recent
signs of general improvement in the
labour market and on the jobs front
should help sustain the housing market
recovery in the short-term, especially
in Dublin, though there may be a lag in
the rest of the country.
Overall, I see a low to mid single
d
hh
Copyright NLA Media Access. For internal use only. Not for reproduction.
2. Date 15 December 2013
Page 44,53
digit average price rise in Irish house
prices in 2014, with Dublin posting the
biggest increase.
KEITH
LOWE
MD. Douglas Newman Good
What we found out about
the property market last
year:
Last year was proof, if proof
were needed, that the property market in Ireland has life
in it yet and that property prices
have fallen too far and almost
certainly overcorrected in certain locations, particularly in
Dublin. This was demonstrated
by a quick rebound in property
prices with five consecutive
quarterly price rises in the
capital as they moved towards
equilibrium or fair value. This
was inevitable as property
prices had fallen too far, especially in Dublin, a view that was
echoed by many estate agents,
economists, the OECD and commentators at the Central Bank.
Biggest change I saw in 2013:
Apart from a surge in property
prices in the capital, the biggest change in 2013 was the very
high level of cash buyers, which
accounted for around 57% of all
sales in the first half of this year.
This was up from a little over
a third of all sales in 2012 and
is much higher than the 30%
reported in the UK this year.
However, the number of cash
transactions appears to be moderating with a marked reduction
to around 35% in September
– the latest available figures.
The high number of cash buyers
made it quite difficult for potential purchasers with mortgages
h
d
Q
A
to compete. This proved very
frustrating for many and should
not be as prevalent in 2014.
Buoyed up by:
I am heartened by the level of
interest from both domestic and
foreign investors in the residential property market. The
returns for investors are better than ever. The reason being
that property prices are low and
rents are rising – hence yields
are strong. Couple this with the
fact that deposit rates are at all
time low and one can see the
attraction for investors to purchase residential properties in
the capital. Some entry level
properties are offering 10% –
15% returns in Dublin, Cork and
Galway and this beats earning
1% or 2% interest in the bank and
then paying DIRT!
Disappointed by:
I view the Government’s most
recent budget as a missed opportunity. Demand in Dublin is
considerably exceeding supply, forcing up prices. Other key
urban areas such as the cities of
Cork and Galway have reported
stock shortages and upward
pressure on prices. The population in these areas is increasing,
yet the level of housing stock is
stagnant. In Australia and the
USA governments introduced
grants and tax credits for new
homes sales in an effort to boost
supply. The system was so successful that it was extended
twice in both countries. If construction is to re-start, the Irish
government should also be
assisting in construction finance,
be it directly or by guaranteeing
finance to the banks.
Best sale of the year
57a South Hill in Dartry, which
had an asking price of €895,000.
There were number of bidders
h
d
l f h
who competed strongly for this
lovely family home which eventually sold for €1,300,000, 45%
over the quoting price. This is
a great price for the area and
reflects the desire for and shortage of good family homes.
Lessons we have to learn:
Like it or not, property is a key
driver to economic recovery.
History shows that there has
never been an economic recovery that has not always coincided
with a robust and well-functioning housing market.
My predictions for 2014:
It is my belief that property
prices in the capital will rise by
10 – 15%. We will also see some
recovery in other urban areas
but remote rural areas will take
longer to recover.
Copyright NLA Media Access. For internal use only. Not for reproduction.
3. Date 15 December 2013
Page 44,53
More domestic buyers
What we found
out about market:
Confidence has
improved
among bidders and
buyers. Bidding was
brisk and plentiful,
reflected in the large
attendances at each
auction. Many bidders
commented that this
was a good time to
buy as they felt prices
had stabilised and
Q
A
ROBERT HOBAN
Director of Auctions
Allsop Space
demand was growing
in good locations.
Biggest change I
saw in 2013:
The strengthening of
the domestic Irish
buyer. In 2012, 15% of
our buyers were from
overseas. This
What we found out about
the market last year:
2013 was a gamechanging year for the
property market, the
combination of very low supply
particularly in the regional
centres and pent-up demand
resulted in a much more
competitive bidding
environment with resultant
price inflation in Dublin, Cork
and Galway in particular.
Biggest change I saw in
2013:
When you compare the start of
2013 with the closing months,
the change in sentiment toward
property and the more positive
outlook is very notable.
Buoyed up by:
The increasingly positive view of
Ireland abroad as a competitive
and enjoyable place to visit and
do business. It is a pleasant
reminder to us that our best
years may be ahead of us
despite the hard lessons that
have been learned along the
way.
Q
A
dropped by 3
percentage points to
12% in 2013.Domestic
bidders are now
buying 88% of
properties.
Buoyed up by:
The growth of the
commercial and
but cash won’t be enough
investment sector.
Bigger and bigger lot
sizes are now being
sold. In Tuesday’s
auction, €3.25m was
paid for a large office
block in Limerick (River
House, Charlotte’s
Quay), rented to the
OPW, after heated
bidding. The property
had been for sale for six
months through another
agency by private treaty
with three offers ranging
from €2.6m to €2.8m. 4
Disappointed by:
The lack of quality stock
available as a result of
too few debt deals
taking place in Irish
credit institutions. The
understandable
difficulty is that the
banks would close
overnight if all debt was
written down, yet
increased lending into
the market is badly
needed in 2014.
Lessons to learn:
If normal levels of
finance are not
forthcoming, the cash
market cannot be relied
upon to soak up the
supply of properties. The
number coming to the
market in 2014 is set to
increase greatly as
banks line up buy-to-let
portfolios for disposal.
Things are looking up
– but we need to start
building new homes
MICHAEL GREHAN
MD. Sherry FitzGerald Group
Disappointed by:
The lack of joined-up thinking
that is required from the various
bodies to the property needs of
Irish society on the back of a
fast-growing population which
has grown by 8.5% since 2006.
Best sale of the year
One of our most notable sales
of 2013 in terms of both value
and profile was that of Abbeville
in Kinsealy, the former home of
the late Charles Haughey and
his family. Abbeville is a
stunning private estate, yet its
proximity to Dublin and its
international airport made it a
particularly attractive property
to both domestic and
internationally based buyers.
Whilst it is a hugely important
sale, it is also extremely
satisfying that the buyer
appreciates the rich historical
provenance and architectural
merit of Abbeville and plans a
comprehensive restoration.
Lessons we still have to
learn:
We need to plan the future. At
this juncture, we have
experienced five or six years of
limited construction activity but
strong population growth. As a
result, shortages of available
houses have emerged. We need
to begin construction activity in
all our regional cities but also
perhaps we need to do so most
urgently in Dublin.
Copyright NLA Media Access. For internal use only. Not for reproduction.
4. Date 15 December 2013
Page 44,53
g
ANGELA KEEGAN
MD. Myhome.ie
What we found out about the property
market last year:
The market has finally bottomed out. The
property market is cyclical in nature but
because of the recession the downward cycle we
have just emerged from was longer and much
deeper than anything we’ve seen previously.
Biggest change I saw in 2013:
Confidence has come back with more potential
purchasers completing transactions. The other
big change was the double-digit price increase
that we’ve seen in some areas in Dublin.
Buoyed up by:
After six very challenging years it’s very positive
for the market that prices have started to
recover. However, that comes with a caveat that
we want and need more transactions.
Disappointed by:
The lack of supply. This is restricting normal
market movement and driving prices higher. For
example, MyHome.ie has 3,200 Dublin
properties for sale. In January 2012 the figure
was 6,093! The price increase in Dublin is not
sustainable in the long term.
Best sale of the year
Milverton, Herbert Park, Donnybrook auctioned
by Lisney. It broke records in 2004 when it sold
for €8m and broke records in 2013 when it was
sold for €4.6m. It shows that a good house in a
good location will always buck the trend.
One thing I’d like to see in 2014:
An overall solution to the underlying problem of
negative equity and more sustainable solutions
by the banks for the over-borrowed.
Q
A
SIMON STOKES
Residential Group chairman, SCSI
What we found out about the property
market last year:
There is greater pent-up demand in Dublin
than anyone realised. There is also a
significant number of cash purchasers looking
for good quality family homes.
Biggest change I saw in 2013:
Huge increase in demand for family homes in
well-established residential areas. Increased
interest in investment properties, particularly
smaller commercial investments under €1.5m
Buoyed up by:
Increased demand and interest generally.
Market is staring to recover – prices have risen
significantly in Dublin over the last 12 months.
Disappointed by:
Lack of political will to get banks to lend despite
the billions poured in to rescue them.
Best sale of the year:
House requiring extensive refurbishment on
Northumberland Road, Ballsbridge – over
€800,000. It is lovely to see a magnificent
Georgian building return to its original purpose.
Lessons we still have to learn:
There will be no general economic recovery
without bank lending.
One thing I’d like to see in 2014:
Government and local authorities realising that
we need zoned lands suitable for building family
homes. Banks being more realistic about
lending to developers and home buyers.
My predictions for next year:
Continued growth in Dublin residential prices.
Gradual improvement in other urban centres.
Q
A
Copyright NLA Media Access. For internal use only. Not for reproduction.
5. Date 15 December 2013
Page 44,53
GREAT
PRICE:
Demand for
57a South
Hill in
Dartry,
Dublin was
so high it
was sold by
DNG for
€1.3m, 45%
above the
€895,000
asking
price
TOWN AND COUNTRY:
Walford, on Shrewsbury Road in
Dublin 4, owned by a trust linked
to Gayle Killilea sold privately for
€14m, while Charles Haughey’s
former estate, Abbeville in
Kinsealy sold for €5.5m
Copyright NLA Media Access. For internal use only. Not for reproduction.
6. Date 15 December 2013
Page 44,53
Copyright NLA Media Access. For internal use only. Not for reproduction.