One argument that can be made on house prices is that its the year-year % change that is relevant, not the month-month. So here is that data for Ireland. Feel free to draw your own conclusions…..
Have house prices in Ireland turned a corner ?
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One response to “Have house prices in Ireland turned a corner ?”
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Surely the uptrend in all segments on the graph commences roughly around the announcement of the ending of mortgage interest relief. It then duly peaks 31 Dec 2012 before re-commencing a precipitous decline. Downward trend briefly interrrupted by market manipulation!
Allied to the fact that most lenders have reduced loan capacity by the interest relief no longer available AND are stressing much harder in 2013, is it any wonder that the decline in prices is back on???? A casual glance at some house prices tells us there is still some way to go, even in areas with perceived shortages. Personally, I also am seeing a recent increase in price reduction notifications from relevant property websites….these had reduced to a trickle in Q4 2012. Anyone looking to buy, SIT TIGHT. Would appreciate your personal view Brian.
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