It's that time of year when the talking heads produce their pearls of wisdom about the coming year.
ref IT article
2013: Prospects for the year ahead - The Irish Times - Wed, Dec 12, 2012
Mark FitzGerald Chairman, Sherry FitzGerald Group
After four years of market contraction, the commercial and residential markets have both begun to stabilise, most notably through the uplift in market activity.
When Europe recovers, Ireland is likely to recover quickly. Ireland led Europe into the crash and looks like leading it out of it.James Nugent MD, Lisney
IPD (Investment Property Database) is showing a fall of 5 per cent over the past 12 months but I think these values have stopped falling. Some sectors may still be at risk to further falls. I’d have a concern about some out-of-town retail properties in certain provincial towns.John Moran MD, Jones Lang LaSalle
For absolute prime we think that we are at the bottom. There is still further to go on secondary assets and land. Primarily driven by occupational uncertainty.Larry Brennan Chairman, Savills
Yes, the prime markets have stabilised and arguably in certain sectors and locations, such as prime Dublin offices where supply is limited, we are likely to see some rental growth and capital appreciation.
There is, however, significant supply in other areas, particularly in secondary non-prime locations.
Values of these properties may have a little further to go.A pretty consistent message.Michael Harrington Executive director, CBRE
The outlook for 2013 is cautiously optimistic and if we as a nation can weather the upcoming budget with the same resilient spirit that got us through previous austerity adjustments, we should all be in a better place this time next year.
Wishful thinking? Group think?
My thoughts - at best the market will go sideways next year.