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Confused or spun? Property prices in Ireland
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
trueeconomics.blogspot.com / By Dr. Constantin Gurdgiev / Tuesday, April 2, 2013
So foreign investors are allegedly flocking in thousands to Irish commercial real estate markets, snapping anything they can get their hands on… right
http://www.independent.ie/business/world/number-of-empty-office-buildings-soars-by-67pc-29167687.html
Meanwhile, of course, residential property is on a ‘recovery path’ (aka flat-line dead) per latest CSO figures for the Residential Property Price Index.
In February 2013, RPPI for all properties fell from 65.4 in January to 64.4 (a decline of 1.53% – the steepest rate of m/m drop since February 2012 and worse than the year-to-date average m/m decline of 1.07%). The index is now down 2.57% y/y.
Looking at slightly smoother 3mo figures: 3mo cumulative change on previous 3 months was -2.57% which signals acceleration in decline compared to 6mo change on previous 6 mo at -1.23%. Thus, relative to peak, RPPI hit absolute bottom at -50.65% with previous record drop of -50.34% recorded in June 2012.
Thanks to BrotherJohnF
2013-04-02 19:47:56
Source: http://silveristhenew.com/2013/04/02/confused-or-spun-property-prices-in-ireland/
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