House prices to fall 80%

[Mich the Tester]

Isn't LAND to build new houses what the UK is short of, compared to most other countries? Don't know if that has a knock-on effect on pushing up house prices, I suppose if ALL available land was built on then it would do.

The point in the article is that new houses aren’t needed. There are loads of old houses that can be renovated and re-inhabited.

[DimPrawn]

The point in the article is that new houses aren’t needed. There are loads of old houses that can be renovated and re-inhabited.

Lots of holiday homes as well used for a couple of weeks a year by City types and empty the rest of the year. Locals just love it.

[contractor79]

Lots of holiday homes as well used for a couple of weeks a year by City types and empty the rest of the year. Locals just love it.

yes. such a hideous thing to do with one's money, why can't they just put their money in other things and pay hotel bills the greedy mean gits, just go camping or get a caravan

[tim123]

in Ireland

The price of houses in Ireland got silly.

You go to a small town, with no jobs, no particular tourist interest, 4 hours from Dublin and a poxy little (OK reasonable sized) 2 bed apartment costs 300K (Euro),

It's nuts.

tim

[contractor79]

The price of houses in Ireland got silly.

You go to a small town, with no jobs, no particular tourist interest, 4 hours from Dublin and a poxy little (OK reasonable sized) 2 bed apartment costs 300K (Euro),

It's nuts.

tim

or is that what it will cost for the Brits... ;-)

[TykeMerc]

The price of houses in Ireland got silly.

You go to a small town, with no jobs, no particular tourist interest, 4 hours from Dublin and a poxy little (OK reasonable sized) 2 bed apartment costs 300K (Euro),

It's nuts.

tim

Not that much different from the UK to be honest.

The price of houses in the UK has been out of rational proportion to incomes for the better part of a decade.

[Flashman]

The price of houses in Ireland got silly.

You go to a small town, with no jobs, no particular tourist interest, 4 hours from Dublin and a poxy little (OK reasonable sized) 2 bed apartment costs 300K (Euro),

It's nuts.

tim

Yeah, heard the same sort of thing from a friend living in Cork. If you thought the British property market was mad, the Irish was utterly nuts.

[Spacecadet]

I also predict that prices WILL NOT fall 80% in the UK.

how about 79.9%?

[expat]

If nobody can get a mortgage then house prices will fall to the levels of savings people have in the bank. Which means in NL the average house will cost around 10,000 euros, in Germany about 15000 and in Britain you’ll have to pay people to take your house off you.

Unless "nobody can get a mortgage" really means that fewer people are getting mortgages approved: curiously, just enough fewer that the number of buyers equals the number of sellers.....

[tim123]

Not that much different from the UK to be honest.

The price of houses in the UK has been out of rational proportion to incomes for the better part of a decade.

There are pockets in the UK where, even in 2007, you could buy an acceptable 2 bed property, in a "safe" area, for 60K.

You can't do that anywhere in Ireland as far as I could tell.

tim