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Home Page > News > Irish house prices are stable and will start to rise in 2014 say experts

Irish house prices are stable and will start to rise in 2014 say experts

DARA KELLY,

IrishCentral.com Staff

Published Monday, October 10, 2011, 7:12 AM

Updated Monday, October 10, 2011, 9:29 AM

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Irish property prices could stabilize in mere months and will even start to rise again as early in 2014, claim experts on the RTE 1 documentary "Property Crash -- Where to Now."

"Banks will lend when both they and the borrowers and the purchasers of houses are confident that they're getting the house at a fair, sustainable price and I think we're getting close to that point," says Professor Patrick Honohan.

Dr Conor Skehan, head of Environmental Planning at the Dublin Institute of Technology, said: "The recovery when it comes will seem to be particularly abrupt in the eastern area."

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"I like to make the analogy of what happens when you hold a ping-pong ball under the water and let it go, the way it abruptly pops up, and I think the speed and vigour of the recovery when it happens will surprise many," he added.

However, the house-price rebound will divide the country. Prices are predicted to rise again in Dublin, Wicklow, Kildare, Meath and Louth while property in Leitrim, Cavan, Longford, Roscommon, Sligo, Wexford, Carlow, Waterford, Kerry and Mayo could languish for years to come -- and in some cases never recover, reports the Independent.

The documentary "Property Crash -- Where to Now" will be broadcast on RTE 1 television on Monday night.

Nster.com

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sirpeter | Oct 11, 2011, 06:51 PM EDT

I'd say 2014 is about right.Time to buy will be next year sometime.Pop in to your local bank with 100 grand cash and if you can prove where you got it.They have a stack of houses up to the ceiling they want to off load.You just might pick up a very good deal.One persons misery and house repossession is another persons joy.Capitalism at it's finest.

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CitizenWhy | Oct 10, 2011, 09:49 PM EDT

Too much fairy dust.

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JBRAFTREE | Oct 10, 2011, 07:10 PM EDT

Whoa guys!!! not too fast, else you may be in a worse mess!!

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Towngate | Oct 10, 2011, 01:15 PM EDT

"Right, so! Yer Honour, Four years it is, But can we hold on that long, though, I wonder?"

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LoyalCitizen | Oct 10, 2011, 12:41 PM EDT

@Kinvara: Artistic license. If these experts can generate false figures so can every one else. Surveys, Polls, Summits. The propaganda is flying at the moment to try to talk up just about anything.

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kinvara7 | Oct 10, 2011, 11:08 AM EDT

@LoyalCitizen: IBEC conducted a survey which suggested that one company in four is planning to take on new staff in the coming three months. How did you come to the figure of 112,500 jobs? It appears that you divided 450,000 by 4...why? The survey did not say that 1 in 4 people out of work would find employment in three months, but that 1 in 4 companies would take on new staff. What you need to do is find the total number of relevant companies and divide THAT by 4.

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LoyalCitizen | Oct 10, 2011, 08:50 AM EDT

These expert also say that 1 in 4 companies are hiring, which will help drive a new property bubble.............450,000 unemployed, which means they have manage to create 112,500 jobs since old Billy Boy made his speech at the weekend...........Beatify the man quick.

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