On a bright note it would seem that the mood of acquaintances is improving and that some are starting to consider planning ahead.

Property may be stagnant but the reason is now as much to do with there being no effective market due to lack of mortgages as anything else. Also rental property is in strong demand provided it is soundly constructed and of reasonable size. This is UK related.

I have been very busy recently providing a service for those with property that want to stabilise their position and get some return. With the massive reductions in interest rates it now means that rentals cover loans plus more than a good profit. How that will feed through in the long term is another matter, but this is starting to turn which would mean recovery early 2011.

There is a window for getting building work done very competitively. Builders right now are pricing very keenly, this will last into 2010 but as we approach 2011 the amount of tenders will increase and so wil prices.

Squire wrote:

On a bright note it would seem that the mood of acquaintances is improving and that some are starting to consider planning ahead.

Property may be stagnant but the reason is now as much to do with there being no effective market due to lack of mortgages as anything else. Also rental property is in strong demand provided it is soundly constructed and of reasonable size. This is UK related.

I have been very busy recently providing a service for those with property that want to stabilise their position and get some return. With the massive reductions in interest rates it now means that rentals cover loans plus more than a good profit. How that will feed through in the long term is another matter, but this is starting to turn which would mean recovery early 2011.

There is a window for getting building work done very competitively. Builders right now are pricing very keenly, this will last into 2010 but as we approach 2011 the amount of tenders will increase and so wil prices.

Shush!! you happy chappy, we'll not have that class of talk around here.
On a bright note indeed. How very dare you.

tonys wrote:

Shush!! you happy chappy, we'll not have that class of talk around here.
On a bright note indeed. How very dare you.

Ah sure not everyone is so pessimistic. They just tend to shout louder. Provided I remain healthy I am quietly confident of still being around in 50 years time and consider it likely that I will, at that stage, have experienced many economic cycles both upwards and downwards. I suppose that is the kind of confidence you can have when you don't have debts or a mortgage though.

tonys wrote:

Squire wrote:

On a bright note it would seem that the mood of acquaintances is improving and that some are starting to consider planning ahead.

Property may be stagnant but the reason is now as much to do with there being no effective market due to lack of mortgages as anything else. Also rental property is in strong demand provided it is soundly constructed and of reasonable size. This is UK related.

I have been very busy recently providing a service for those with property that want to stabilise their position and get some return. With the massive reductions in interest rates it now means that rentals cover loans plus more than a good profit. How that will feed through in the long term is another matter, but this is starting to turn which would mean recovery early 2011.

There is a window for getting building work done very competitively. Builders right now are pricing very keenly, this will last into 2010 but as we approach 2011 the amount of tenders will increase and so wil prices.

Shush!! you happy chappy, we'll not have that class of talk around here.
On a bright note indeed. How very dare you.

I don't think the good Squire can be posting from our jurisdiction, tonys. There's not a bucket of cement mixed in our Parish since Christmas.

tonys wrote:

Squire wrote:

On a bright note it would seem that the mood of acquaintances is improving and that some are starting to consider planning ahead.

Property may be stagnant but the reason is now as much to do with there being no effective market due to lack of mortgages as anything else. Also rental property is in strong demand provided it is soundly constructed and of reasonable size. This is UK related.

I have been very busy recently providing a service for those with property that want to stabilise their position and get some return. With the massive reductions in interest rates it now means that rentals cover loans plus more than a good profit. How that will feed through in the long term is another matter, but this is starting to turn which would mean recovery early 2011.

There is a window for getting building work done very competitively. Builders right now are pricing very keenly, this will last into 2010 but as we approach 2011 the amount of tenders will increase and so wil prices.

Shush!! you happy chappy, we'll not have that class of talk around here.
On a bright note indeed. How very dare you.

Rental property here is ten a penny. There are, as I've mentioned before I'm sure, more than 210K empty houses in Irealnd - most of them newbuild houses built by property developers who cared nothing for whether there were customers for them or the ruination of huge swathes of lovely countryside.

cactus flower wrote:

I don't think the good Squire can be posting from our jurisdiction, tonys. There's not a bucket of cement mixed in our Parish since Christmas.

I am not known for my euphoric outbursts, but I tell you mood is starting to change. On the development side of things I would be way ahead of any general recovery. The cement won't be mixed on anything I do this side of Autumn 2010 at the earliest. Basically I put together proposals for developments and attract other investment. That way I possibly get a good return and spread the risk. It is a form of leveraging up.

The trick is to see an opportunity that others perhaps don't, get the land at a competitive price and obtain competitive tenders. I can tell you that right now I have Architects approaching me offering to do work at risk and good building contractors willing to sell their mothers into slavery for work. Is this going to get any more competitive, I don't think so. You can't have people working for nothing. To me that is not right and creates all sorts of potential problems. Someone going bankrupt is the last thing you want and if they are part of your network and reliable then you are also the poorer by their demise.

Imagine you had borrowed say £1,000,000 at 7% and are now paying 2.25% all of a sudden you are not bleeding to death. So if you bought say 5 properties and were renting at say 500 a month then basically you are covered and can sit and wait. Execution postponed and spiralling downward glide on that front has bottomed. Rising unemployment is the next threat.

With regards rental, from what I hear and know there is a strong enough demand as people cannot get mortgages or are waiting in the hope of further price reductions. However as I keep saying location and quality are essential. No one is going to rent a hovel in the back end of no where.

I am now really busy and there is a growing air of confidence about. That is my observation and I still think further falls in the FTSE and DOW etc are likely, but we may be starting to bottom out. Mood is everything.

I'm running around Dublin trying to find an ATM that will let me take out the remaining €10 I have in my account so I can take a bus home to Wexford so I will at least be able to eat this weekend. I'm only stopping in here so I can use meteor.ie to text the mother and let her know I'm coming home as I've no credit and no hope of being able to afford any any time soon. And I'm supposed to be taking my girlfriend for a meal in Galway in a week!

Try the Ulster Bank ones.

No avail from the UB in Connolly. I'm in the PC lab in Trinity at the mo so the BoI one down by the Buttery should sort me out. Won't cover the full ticket mind so there will be some fleecing involved.