First serious challenge to NAMA

From the SBP, Gavin Daly writes: Developers flex their muscles with Nama

This is the first serious challenge to teh NAMA legislation, the only pity is that we have to wait until October for a hearing...like our politicians, the judiciary are on holidays also.

As the third tranche of transfers is prepared for later this year, more challenges may come forward from developers who have little to lose.

pfq.ie

Households face taxes on property and water

From the Irish Independent today, Michael Brennan writes: Households face taxes on property and water.

This has been coming down the tracks for some time now and appears likely to be introduced in some format.
I think Water charges will be first.
I have no problem with this...if every house was metered, the minimum charge was abolished, Council leaks were repaired and we all only paid for what we actually used.
At present, the broad-brush Minimum charge gives no incentive to save water.
Without meters, I fear the introduction of a Flat Tax which again, will do nothing to reward the careful consumer.
So charge away for what we use, but meter first.

pfq.ie

IAVI Q2 Residential Survey

The IAVI Q2 residential survey results were published this morning.

The main findings are:

• Continued improvement in activity levels nationwide, albeit at a more moderate pace compared to quarter one

• Increase in the volume of ‘sales closed’ nationwide in quarter two with the net balance increasing to +27% from +17% in quarter one

• In Munster, the net balance of respondents reporting ‘sales closed’ increased to +31% from +19% in Q1

• Moderate declines in average residential property values in quarter two

• Vendors’ price expectations ‘more realistic’ since beginning of 2010

You can read the press release or download the full Report

New NAMA plan makes fire sales more likely - Irish, Business - Independent.ie

Hate to say I told you so, but Emmet Oliver in the Independent points out that NAMA is looking like it will be a disaster for the Irish Commercial property market. The prospect of dumping large property holdings on the market, and/or keeping property off market, but overhanging the market will depress prices for years to come.
Every time the Government interfere in the property market, they make a mess of it.
You would think the 2 failures of Peter Bacon might have warned them, but no, they give him a prime position in policy formulation!
Read this article...and batten down the hatches.

New NAMA plan makes fire sales more likely - Irish, Business - Independent.ie

www.pfq.ie

What is a Surveyor? - SCS - The Society of Chartered Surveyors

The SCS has produced a video, aimed mainly at second and third level students and features representatives from a variety of divisions talking about their daily work, the skills and strengths required and the satisfaction of working within the profession.

What is a Surveyor? - SCS - The Society of Chartered Surveyors