Dublin property prices falling by €4,500 a month

[kerrynorth]

A lot of bad news today. Eurozone M3 growth has jumped in July to 11.7pc from 10.9pc. This will force the ECB's hand to continue raising interest rates....

I'm afraid I don't get it. Interest rates are clearly not impacting on money supply.

And Ard-Taoiseach says above that ECB are aiding money supply growth whe I thought the policy was to reduce the growth ?

So, what is the policy here ?

What the ECB has done is to increase temporary liquidity, not money supply, it only gave out short-term loans overnight to a month long. Reducing interest rates increases money supply by making money cheaper.

[Johnny]

Latest report from http://www.irishpropertywatch.com/ shows 982 asking price drops and 63 asking price increases over the past two weeks on myhome.ie

[constitutionus]

its anecdotal i know but three houses i know have sold in the last 2 days. prehaps people are starting to think theyve saved as much as theyre going to. after all these houses were on the market for months and circa 40k been wiped off the asking price.

[Ard-Taoiseach]

its anecdotal i know but three houses i know have sold in the last 2 days. prehaps people are starting to think theyve saved as much as theyre going to. after all these houses were on the market for months and circa 40k been wiped off the asking price.

Is that in your area? Its definitely a likelihood. And the halt in ECB rate rises must have given a lot of buyers confidence that were holding off till that decision was made.

[Coles]

According to Daft.ie 3,780 properties came on to the Irish market in the last 7 days, while 34 went 'sale agreed'. However, I would expect a pick-up in sales over the next 2 months and as a consequent of that, a further surge of properties to the market. Did I hear the financial genius that is Eddie Hobbs correctly today when he said that people should try to sell their homes and rent instead? RTE Radio 1, around 10.30ish? Perhaps it was the voices in my head...

[ibis]

its anecdotal i know but three houses i know have sold in the last 2 days. prehaps people are starting to think theyve saved as much as theyre going to. after all these houses were on the market for months and circa 40k been wiped off the asking price.

Is that in your area? Its definitely a likelihood. And the halt in ECB rate rises must have given a lot of buyers confidence that were holding off till that decision was made.

1. the ECB rate freeze is, so far, speculation by IIB

2. this is September, when property sales traditionally increase

[Johnny]

1. the ECB rate freeze is, so far, speculation by IIB.

Wasn't Austin Hughes actually implying there could be an ECB rate cut next year?

[theyshootPDsdontthey]

1. the ECB rate freeze is, so far, speculation by IIB.

Wasn't Austin Hughes actually implying there could be an ECB rate cut next year?

The most interest rates might fall next year is .5%. What should be remembered is that the ECB is trying to prevent psooible inflation in 2 years time.

Wheat prices have doubled in the past few months, and this will worry Mr Trichet considerably more than the price of a rabbit hutch apartment on the Dublin/Meath border.

In any case, there will be serious corrections on the housing market in different regions of the country. There is absolutely loads of houses for sale from Boyle to Carrick-on-Shannon and in North Roscommon. These will take some shifting and the interest rates at 0% may not even shift them. After all, people only need one house to live in.

[Johnny]

And now in the Six Counties......

House prices fall in North

Average house prices in the North have dropped, experts said today. More than half of the North's estate agents taking part in the survey reported a downturn in values, the Royal Institute of Chartered Surveyors (RICS) study added.

[jake76]

In any case, there will be serious corrections on the housing market in different regions of the country. There is absolutely loads of houses for sale from Boyle to Carrick-on-Shannon and in North Roscommon. These will take some shifting and the interest rates at 0% may not even shift them. After all, people only need one house to live in.

I went through Longford a couple of weeks ago and there seemed to be truckloads of houses for sale there too.