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A STATUS YELLOW warning for rain will come into effect tomorrow night for counties Dublin, Louth, Meath and Wicklow.
Met Éireann forecasts heavy rain at times in these counties, with the potential for spot flooding.
The alert comes into effect in these four counties from 10pm Friday night and will remain in place until 6am Saturday morning.
There will be outbreaks of rain and drizzle throughout much of the country this afternoon, though these outbreaks will clear early tonight.
After a mainly dry start to tomorrow, scattered showers will move in from the west and some will become heavy in the afternoon, with the chance of isolated thunderstorms and spot flooding.
Further heavy scattered showers will take place overnight Friday, the worst of which will be in the north and east where these scattered showers will merge to longer spells of rain and could lead to spot flooding.
This rain will linger in the east on Saturday morning while elsewhere will be mostly dry with sunny spells.
However, some showers in the north and west will extend to other areas throughout the afternoon and evening.
Saturday night is forecast to bring a mix of clear spells and scattered showers, and it is a similar picture on Sunday morning, with the heaviest and most frequent rain over the northern half of the country.
These showers will become more isolated and die out early into Sunday night, though cloud and rain will increase from the south throughout Monday morning and push northwards throughout the rest of the day.
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And history repeats itself. It is hard to believe how stupid people are.
How are people stupid? Most are trying to get their own home. Rents are through the roof with no stability in the market. This is a planning issue. There should be some thought put into the requirement for housing around the country.
History isn’t really repeating itself though. House prices are rising simply because people are idiots who think that a lower supply should automatically mean a higher price for their home. I’d be very comfortable in saying that the majority of the houses on the market now will struggle to sell due to the excessively high prices and new mortgage rules.
Houses are still selling but to the wrong people. The new mortgage rules mean young couples cannot get on the ladder so they’re being bought by older or semi retired couples as an investment which only helps increase rent and demand
Jason. First lesson in an economics class teaches about supply and demand and the effect on price. All being equal, lower supply should nearly always mean a higher price.
But is the whole issue here, that there is an abundance of houses, either idle or boarded up, that could be sold but are being given to vulture funds for a fraction of the price.
Prices rise according to the demand, in Cavan for instance the average 3 bed/semi is still well below 100k. Problem is that there is no employment outside of the public service.
And as a consequence the home tax will also rise. Enda & Co have an awful lot to answer for. Thieves.
The focus of these articles always seems to be on the price rises. It’s almost like you’re trying to encourage people to buy now rather than wait. Not that the Journal would have any interest in that…. the actual amount of properties sold is still very low which tells us that the market is still stagnant and broken.
Spot on The Guru, and it has to be noted that these are “asking” prices – not sales prices.
Guru, do you feel they should not report this? Or would you prefer they report it with a slant that matches your sentiments? Also, yes, these are asking prices, which are indicative of trends, which is what the article is about…. There’s zero pleasing some people.
Actual sales prices are exceeding asking prices due to scarcity in the right areas. It’s a sad reality.
Many sellers are reluctant to sell in a rising market. Residential property if acceptably located is generating excellent rental yields in a low interest environment and uncertain time for equities. Add pent up Unsatisfied demand and too many factors are pushing up demand in an under supplied market.
The consequences are adverse to the real economy but good for price speculators.
“Also, yes, these are asking prices, which are indicative of trends, ”
Exactly – a trend of increasing asking prices – not sales prices.
I agree Fiona (for the first time I think!) When house prices are going up less people want to sell, they waiting for them to go up more which in turn drives them up more. But when we fall over the inevitable cliff everyone wants to sell before they drop more which pushes prices down more.
Developed countries have been trying to break that cycle for a few hundred years now, not looking like it’s going to change anytime soon.
http://www.irishtimes.com/business/economy/house-prices-climb-8-in-year-to-january-1.2554208
I don’t remember the puff piece about this on the Journal when it was announced that in January 2016 that house prices actually fell nationally and in Dublin. I don’t mind them reporting on price increases as long as they’re reporting the situation in a balanced manner and that requires a similar report on a decrease in house prices.
Ciaran look at the headline. “and will keep going up”…this is the kind of sensationalist and skewed rubbish that got this country in this mess. The Journals parent company has significant investment in property companies and not all readers will know that. So no there’s no pleasing me.
Lack of supply & new mortgage rules will be interesting to see the real numbers in the next quarter.
Just looking at local prices 220,000 seems to be the stopping point for houses.
If you think rising wages and rising house prices are a good thing, then you’re part of the problem.
Rising house prices will get people out of negative equity thou. Then people will be able to move to where they want !
This is good news at last for the rest of the country outside the bloody pale. But wait till you see the moaners, communists and pessimists on here shortly this morning complaining about it….
Anyways, I’ve a few properties bought back in the day near the colleges in Carlow, Tralee and Limerick so hopefully will be able to put up the rent a small bit more come September. If prices keep rising I will be able to sell off a couple of them and retire early hopefully. Get in a few holidays a year to Spain :)
How is it good for the rest of the country and not just you? You increasing your rents, is that good for the rest of the country? Students spending a higher proportion of their funds on rent rather than in local business, and the rent money being spent in Spain, how is that good for the rest of the country?
Bad news for any looking to buy their first home. Maybe if capital gains was reduced, you could release some of these houses while still making a profit
Liam he’s full if it … Pay no attention
Students are well able to afford an extra 50 euro a month in rent. The houses always stink of drink when they leave in May. Beer stains everywhere. Rare the house that would qualify to get their deposit back unfortunately.
As for where I choose to spend my profit, I will spend it where I bloody like.
Lol Paddy. Bit early for fishing on here.
Haven’t seen these kind of posts on here before !! It makes a nice change from the pi$$ poor trolling that you normally would see..
So in a nutshell,it is really really nice to see some new material….Oh wait..Yawn.
As long as I’m alright Jack Brigade are on early.
I don’t think house prices in Ireland are that bad compared internationally. Is certainly note expensive in Dublin but you would expect that in a busy city. Compared with other cities I don’t think Dublin prices are bad at all. Rural prices are minute when you consider how close Kildale or Kilkenny is to the capital. Houses cost lost folks… all round the world. Dublin and Ireland are relatively cheap. That’s not a popular view (red thumb link just up there folks) but it’s true.
It’s about time
Increasing house prices are good for the banks and are a consequence of Noonan’s pro banks policies.
So true. Noonan seems fixed on selling aib asap. He is driving up house prices to this end. I know it’s the free market but government only control planning, rates of pay, own most banks, regulate all banks, owns Nama, owns lots of land controlled by other government departments etc. But it’s the market that decides.
The way to buy residential property at a severe discount is to be a high net worth individual who participates in a vulture fund purchasing distressed assets by means of NPLS acquisitions, borrowing at about 0.75% annual interest rates and letting out at a very high rent.
Completely agree with this Fiona, and it’s bound to continue for the foreseeable because of the inability (or reluctance) of the last Government to deal with it.
Bought an apt last year off a bank forced sale, boom
Nice one, my apt has gone up so
Grand made a few bucks from my apt so
Nice
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