Property Barometer: Outlook for the market in 2010?

Property Barometer: Outlook for the market in 2010?

MyHome Property Barometer Q4 2009

The Latest MyHome.ie Property Barometer shows that in 2009 asking prices fell by 14.6% nationally and by 18% in Dublin. This year I do not expect asking prices to fall to the same extent and believe that overall 2010 will prove to be a better year for the market compared to last, although asking prices will still be down 10% on … average over the course of the year, with the real potential for higher price decreases in some sectors and areas in 2010.

With the economy forecast to exit recession, combined with the creation and functioning of NAMA, plus the benefit of low interest rates and the best housing “affordability” in over two decades, do you think the latter part of 2010 will mark a turning point in the property cycle?

If you think 2010 will present greater challenges that 2009 what will they be? What do you think are the “risks” that face the market? – Rising interest rates for variable rate customers as banks increase rates to improve their balance sheets? Negative Equity? Repossessions? Emigration? Unemployment?

Let us know your views on the outlook for residential market in 2010 here…

There is 1 comment for this article
  1. Catherine Turner at 10:27 am

    The question in your post is quite interesting. As we all know that the economic recession has ended and with that the property market will show some improvement. According to me the biggest risk for the property market in 2010 would be the creation of a bubble. Experts say that whenever there is improvement in the property market the chances of bubble property market are greater as people start flipping properties very soon. The bubble when bursts affect all the people, banks, real estate investors, developers related to the property market. I hope you do agree with me.

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