here are some interesting figures re house prices from Ireland.
Ireland: value of land in housing 1994-2006
1994 2000 2006
Average house price € 72,732 169,191 305,637
Rebuilding cost 64,004 121,818 177,800
Land 8,728 47,373 127,837
No. of houses 26,863 49,812 88,219
Total land cost €m 234,5 2,359.7 11,277.6
As you can see the price of housing has outstripped inflation several fold.
Working on an average inflation figure of say 3% then the value of the House would be
Average house price € 72,732 87,316 104,824
So it seems that the actual average house price has risen almost 3 times the rate of inflation to 305,637.
Which is 34% in real terms. so a reduction of 30% in prices will still be an inflation beating investment?
Basically while labor rates have matched inflation look at the increase in actual land values a massive 480%
Interesting in the current financial times?
Interesting
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mopar_mark
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mopar_mark
- Posts: 6738
- Joined: Fri Jul 14, 06 8:01 pm
- Location: Windlesham, Surrey
Re: Money
Sounds like the son talking to his Dad & tells him he doesn't want to join the family business, as he wants to be a farmer & can his Dad help him.Knightcharger wrote:Wish I had bought a couple of acres
Father is so upset, he kicks his son in the balls & says there a couple of acres to help you get started
Last edited by mopar_mark on Fri Nov 14, 08 12:38 am, edited 1 time in total.
"I spent a lot of money on booze, birds and fast cars. The rest I just squandered."
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mopar_mark
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- Joined: Fri Jul 14, 06 8:01 pm
- Location: Windlesham, Surrey
Re: Mark
1s 3d, must of been a flash pub for that priceKnightcharger wrote:Mark
I was buying Mild and bitter for 1s 3p a pint the first time I heard that joke
It is almost as bad as the one about the dog with a hair lip,
you know how it goes
Mark, Mark.........
"I spent a lot of money on booze, birds and fast cars. The rest I just squandered."
