It looks as if the stress test results this afternoon will focus on the mortgage loan books of the four institutions being examined. Here is a note setting out the facts and estimates of our residential property. You might also be interested in a comparison between two distressed property markets: Ireland and the US state [...]
Archive for March, 2011
Irish residential property – the key facts
Posted in Banks, Irish Property, NAMA on March 31, 2011 | 2 Comments »
A stressful day – running commentary
Posted in Banks, IMF, NAMA, Politics on March 31, 2011 | 6 Comments »
Today will be a momentous day in Ireland’s economic history. In addition to the stress tests, we could theoretically get the Nyberg report into our disastrous bank guarantee and NAMA’s full year accounts for 2010 are due to be presented to the Department of Finance - I understand they have already arrived on Minister Noonan’s [...]
UK House Prices leap 2.2% month on month (increase of 0.5% seasonally adjusted)
Posted in NAMA, Non-Irish property on March 31, 2011 | Leave a Comment »
The Nationwide Building Society has this morning published its UK House Price data for March 2011. There is also a new quarterly report for Q1, 2011 which sets out in some detail prices by UK region. The Nationwide tends to be the first of the two UK building societies (the other being the Halifax) to [...]
Stress test results – Central Bank issues arrangements for tomorrow’s announcements
Posted in Banks on March 30, 2011 | Leave a Comment »
With EBS state-owned, Irish Life and Permanent having suspended dealings in its shares until Friday, Allied Irish Banks effectively 90%+ state-owned and Bank of Ireland 36.5% state-owned but with the prospect of majority state control all but certain, you might wonder why the Central Bank of Ireland has chosen a time after the markets close [...]
Egg on Enda Kenny’s face as EBS sale cancelled
Posted in Banks, Irish economy, Politics on March 30, 2011 | 3 Comments »
On the general election campaign trail last month, Enda Kenny, injudiciously in my opinion, referred to the Cardinal Consortium as the preferred choice as buyers of state-owned EBS, but today the National Treasury Management Agency has issued a statement that the sale of EBS, which has been ongoing for nearly a year, has been cancelled [...]
The government says it will not put “one red cent” more into the banks until we know the size of the overall requirement. So what will happen tomorrow?
Posted in Banks, IMF, Irish economy, Politics on March 30, 2011 | 5 Comments »
The expression “one red cent” is gaining a lot of currency here in recent times. The origin of the expression is said to be the copper-ish red colour of the lowest unit of currency, the cent, in the US in the early 19th century and is used to betoken the smallest sum of money possible [...]
NAMA reported to have sold London development site and netted €17m
Posted in Hotels, NAMA, Non-Irish property on March 30, 2011 | Leave a Comment »
Well I’m confused. The Irish Independent reports today that NAMA “looks set to secure about €17m” from the sale of a 1.5 acre parcel of land near to Waterloo rail station in south London (pictured here). The Independent says the property is expected to sell to close to its asking price of GBP 17m – [...]
A return to the mystery on Baker Street as Northern Irish property company confirms loans have transferred to NAMA
Posted in Developers, NAMA, Northern Ireland on March 29, 2011 | 14 Comments »
With a group structure that extends to 70 companies and turnover of more than GBP £200m, McAleer and Rushe (M&R), which was founded in 1967, is one of Northern Ireland’s biggest property companies. Its development interests are mostly in the UK though it has some developments in Northern Ireland and the Republic – in the [...]
Irish house prices – the story so far and the near term outlook
Posted in Irish Property, NAMA, Non-Irish property on March 29, 2011 | 4 Comments »
Looking at the Knight Frank publication yesterday of their Global House Price Index, we see that Ireland was yet again a world leader in 2010 with an annual decline in house prices of 10.8%. You might think that the worst is over here, but that may not be the case. Although none of us has [...]
Lessons from the NAMA freak show
Posted in Developers, Hotels, Irish Property, NAMA on March 28, 2011 | 1 Comment »
There was an entry on here last year which reflected on the phenomenon of foreign journalists arriving in plane loads into Dublin to witness the financial crisis at first hand. It seemed as if we were turning into a freak show for folks to point at, and it doesn’t feel very nice. Britain’s Independent on [...]
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Recent Posts
- Northern Ireland’s residential property price collapse – the worst in the world?
- Are we recovering?
- NAMA’s report and accounts for Q4,2011
- 30-minute guide to the ESM and Fiscal Compact treaties
- Fiscal Compact referendum – final weekly review
- NAMA in negotiations to build major new office block in central Dublin
- NAMA tackled about its protocols for the disposal of assets amid concern at Cork sale
- Of the Week..
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Recent Comments
JP on Northern Ireland’s residential… Jake Watts on Northern Ireland’s residential… who_shot_the_tiger on Northern Ireland’s residential… who_shot_the_tiger on Northern Ireland’s residential… gerhard dengler on Are we recovering? Twitter Updates
- @OwenCallan Thanks! How many negatives make for a downgrade, I suppose. An Taoiseach says it *will* be just one more. 59 minutes ago
- Northern Ireland’s residential property price collapse – the worst in the world? wp.me/pNlCf-2Es 7 hours ago
- @brianmlucey @declanganley @GTCost The IRL experience is that some patients should be let die. 9 hours ago
- @joehas @declanganley @brianmlucey @GTCost I get the impression it's forcing itself back on the table after Bankia. 9 hours ago
- @declanganley @brianmlucey @GTCost You set up a NAMA to suck out the poison OR hope the patient fends for themselves OR let the patient die 9 hours ago
- @OwenCallan Hi Owen! Has any ratings agency said it *will* downgrade IRL if there is a no vote;All S&P said no wd be credit neg in s-term 11 hours ago
- PIIGS yields mixed;SPN/ITA up at 6.5/5.7% as Bankia gets €19bn bailout; what’s SPN for “cheapest bailout in history” wp.me/PNlCf-19r 15 hours ago
- @YJB57 You never know! Peter Mathews giving a candid assessment of the Compact before Thursday could just be this vote's black swan event. 16 hours ago
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