"The BER system is a poorly-timed arrival in the Irish property sector. SEI (Sustainable Energy Ireland) has not told the public that hundreds of assessors are busily carrying out assessments despite not having completed the national test. In a market estimated to cost consumers in excess of €70,000,000 annually, these people have been told they can work away and sit the test later. It is unacceptable that a State body can deem a test necessary and then ignore its own requirements at will. Under the current system, we believe that many properties may carry incorrect certificates and that the only people to benefit will be lawyers who will have a field day, from which SEI cannot expect to be exempt." (Simon Ensor of Sherry FitzGerald; IAVI National Council)
With a surprisingly high number of apartments and houses now selling at up to 50 per cent below the original asking price, one can only wonder if there is much scope for further falls. The huge readjustment in values already seen means that for the first time in years many of the apartments and houses on the market can prove self-financing for investors. With interest rates virtually on the floor and likely to fall again in March, rents are already outstripping mortgage payments, particularly at the lower end of the market. (Jack Fagan, The Irish Times)
"They [the golden 10] haven't done anything wrong. They should be proud of what they did because they were supporting the bank in its hour of need, and it probably supported them in their hour of need. Why would you hide it?" (Ulick McElvaddy)
"We have in the last week noticed some fresh investor activity, attracted by the reductions in prices and the buoyancy of the rental market in urban locations with good transport links." (Ken MacDonald, Hooke & MacDonald)
"If you are in the situation where a repossession is likely an estate agent is definitely worth talking to, they may be able to help find buyers for your property, they will have a good idea of what price your property is worth and therefore what price may be required so that it is ‘priced to sell fast’ as a protracted sale may have you working against deadlines which the court system can dictate." (Karl Deeter, Irish Mortgage Brokers, 'A Repossession Guide for Irish Homeowners')
“It tells me either that people are opting not to purchase now, or else the scheme has acted as a spur, in conjunction with Government’s wider efforts in recent months [through the bank guarantee and, more recently, recapitalisation], to ensure that Irish financial institutions have access to the normal liquidity and funding which they need to operate their day-to-day business and that they are beginning to re-occupy their traditional space in the mortgage market." (Minister of State for Housing, Michael Finnernan, TD)
“SEI does not have the required number of trained and tested assessors to manage this programme. While it correctly states that all of its registered assessors have passed a training course exam, that’s only half the story. SEI has not told the public that hundreds of assessors are busily carrying out assessments despite not having completed the national test. Instead, it has issued hundreds of individuals with ‘provisional’ permission to carry out assessments – subject to them sitting the required national test later this year.” (Simon Ensor, Sherry FitzGerald, IAVI National Council)
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