Quote from: tbrick18 on April 09, 2025, 02:41:38 PMQuote from: thebigfella on April 07, 2025, 05:47:16 PMQuote from: tbrick18 on April 07, 2025, 03:40:46 PMQuote from: marty34 on April 07, 2025, 03:22:58 PMWill all these tariffs/counter tariffs have an effect on house prices?
Don't know tbh, but if talk of a global recession comes to pass I'd say that's likely to result in lower house prices and interest rates. I'm certainly no expert in this, but last time there was a global recession post 2007, house prices fell through the floor.
House prices took 4 years to fall through the floor and the global recession was due to madness in the housing market.
Be surprised if a recession made any difference in Dublin. Everyone been saying during covid, Ukraine, inflation, etc.... this can't continue but the simple fact is there is a housing shortage and buyers (especially in south Dublin) being propped up mummy and daddy's monopoly money.
People were saying all those same things before the 2007 crash.
House prices in the North I'm told are back to 2008 levels, so it wouldn't take much to push them back down. I dont think it would be wise to base the wider market around what's happening in Dublin.
If I was buying my first home or moving home I wouldn't be overly concerned as I'd need to buy and as interest rates fluctuate i'll be affected to a certain degree - but when it comes to a 2nd home or investment property, maybe safer to wait a wee while and see what happens.
Where I live house asking prices are currently about £70k lower than the mental asking prices of 2008.