Recent News
04.02.2010
Tax relief on passing on of sites to stay
THE GOVERNMENT is understood to have taken a last-minute decision not to end tax relief measures benefiting parents who pass sites to children in the Finance Bill, to be published today.
The Green Party wanted capital gains and stamp duty exemptions on the disposal of sites to children to be abolished, while the Commission on Taxation also recommended they be discontinued.
The possibility of removing the measures was discussed at Government level as recently as Tuesday, when Cabinet signed off on the Finance Bill, but a decision was taken to retain them.
However, other tax relief schemes will be removed, as the Co...
20.01.2010
Mortgages now more affordable
Mortgages are more affordable for first-time buyers than at any time in the past 25 years, according to the latest EBS/DKM affordability index.
It shows the average couple buying a first property is paying 13.4 per cent of their joint income to service their mortgage compared with 26 per cent in December 2006. The index, compiled by EBS Building Society and economic consultants DKM, uses variables including house prices, mortgage rates, loan-to-value ratios and mortgage interest relief to calculate affordability. It does not take account of future wages or interest rates.
Source: irish Times 20th Jan 2010...
13.01.2010
Dublin market leads way in house value collapse: survey
At a time of major developers' loans moving into NAMA, some Dublin apartment sites are down by 73% in value, while high-end housing in the capital has seen values tumble by 60%, say front-line selling agents.
And, they say, the drops are nearly over, with the market for second-hand or existing homes at least near rock bottom.
However, in many locations first-time buyers are sitting on the fence, hoping for 'fire sales' of development properties via NAMA, it was noted, while any land sales in 2010 are likely to only come about via the banks not covered in the Guarantee Scheme/NAMA, and from receivers.
...
11.01.2010
Property may rise 10% in 2010 - Bloxham
PROPERTY PRICES will bottom out in the first half of 2010 and may rise by as much as 10 per cent by the end of the year, managing partner of Bloxham Stockbrokers Pramit Ghose has predicted.
In an upbeat “annual surprise list” published yesterday, Mr Ghose predicted that the Irish “prime” commercial and residential property markets will start to recover modestly after bottoming out in spring or summer of this year.
This recovery will be driven by factors such as “pent-up demand, attractive yields, renewed international demand and improving mortgage availability”, he said.
He expe...
21.12.2009
Experts agree interest rate rise unlikely
Four out of five experts agree on one crucial prediction -- interest rates will stay flat until late next year. So what is the property outlook for 2010?
Experts agree interest rate rise unlikely.
NAMA, the possibility of a brain drain or a lost generation, and the risk of worsening unemployment are all factors that will determine conditions in the property market next year.
But if larger European economies like Germany start to pick up, then the ECB could throw a real spanner in the works for us by increasing interest rates.
In London, the European interest rate futures market points to a rat...
10.12.2009
Mortgage interest relief extended for those in negative equity
Finance Minister Brian Lenihan has said that any homeowner in negative equity whose mortgage interest relief is due to expire in 2010 will continue to receive it for a further seven years to 2017.
Mortgage Interest Relief will be abolished completely by 2017, but relief at current levels is guaranteed for anyone who takes out a loan on a house before July 1, 2011.
BreakingNews.ie 09/12/09