Latest news with #ConsumerExpectationsSurvey
Irish Independent
12 hours ago
- Business
- Irish Independent
Property prices surge for 20th month in a row piling pressure on new buyers
It was the 20th month in a row of rising home values. Prices were up by 7.5pc in the year to April, according to the Central Statistics Office (CSO). This was compared with a rise of 7.6pc in the year to March. Property prices in Dublin rose by 6.2pc, and prices outside Dublin were up by 8.6pc compared with April last year. The median price of home bought in the period across the State was €365,000. The highest median price for a dwelling was €670,000 in Dún Laoghaire-Rathdown, while the lowest median price was €185,000 in Leitrim. The most expensive Eircode area over the 12 months to April was A94 in Blackrock, Dublin, with a median price of €750,000. Castlerea, in Co Roscommon, had the least expensive price of €148,000. In April, 3,748 dwelling purchases by households were filed with the Revenue Commissioners at a total value of €1.6bn. These purchases were made up of 2,908 existing dwellings and 840 new dwellings. ADVERTISEMENT Revenue data shows there were 1,458 first-time buyer purchases in April 2025. In the year to April, 49,352 homes were bought by households at market prices were filed with Revenue. Of these, 18,146 were purchased by first time buyer owner-occupiers. This works out at 37pc of the purchases. Former owner-occupiers purchased 25,907 homes, or 52.5pc of the total. The balance of 5,299 (10.7pc) were acquired by non-occupiers, such as State-supported housing charities and funds. The latest price rises are in the wake of the Central Bank again reducing its forecast of how many houses will be built this year, saying it now expects 32,500 – just 2,000 more than last year. It is the second time this year that the bank has reduced its housing forecast. In March, it lowered the prediction to 35,000 from 37,000. The latest development will heap further pressure on the Government, which has set itself a target of delivering 41,000 homes this year, which now seems unattainable. Even that target is less than what most housing experts say is needed to meet demand and clear the backlog – about 52,000 units a year. The slow delivery of new homes comes at a time when demand for housing continues to surge. Close to one in five consumers in this country are looking to rent or buy, the Banking and Payments Federation Ireland said, quoting European Central Bank statistics. Demand for housing in this country is now the second highest in Europe, after the Netherlands. The banking lobby group said 17pc consumers in Ireland, or almost one in five, report that they were looking to rent or buy. This is according to the February 2025 ECB Consumer Expectations Survey.
Yahoo
28-05-2025
- Business
- Yahoo
Euro zone consumers raise near-term inflation expectations, ECB survey shows
FRANKFURT (Reuters) -Euro zone consumers raised their inflation expectations in April but kept a steady view on price growth further out, highlighting elevated uncertainty amid a global trade war, the ECB's Consumer Expectations Survey showed on Wednesday. Households see inflation at 3.1% over the next year, above the 2.9% predicted a month earlier and also well above the ECB's 2% own target. That reading, however, goes counter to the ECB's own projections that price growth was set to slow given weak economic growth, muted wage increases, lower energy costs and a stronger euro. This combination of muted price pressures along with pervasive uncertainty related to U.S. tariffs is why the ECB is all but certain to cut interest rates for the eight time in 13 months next week. Inflation expectations three and five years out remained unchanged, the ECB said, based on a survey of 19,000 adults in 11 euro zone countries. Consumers see price growth at 2.5% in three years and at 2.1% in five years. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Times
30-04-2025
- Business
- Business Times
Eurozone consumers happy to ditch US products if hit by tariffs: ECB study
[FRANKFURT] Eurozone consumers are happy to ditch US products if they are hit by tariffs in the course of a tit-for-tat trade war with US President Donald Trump's administration, a European Central Bank survey showed. The ECB's Consumer Expectations Survey, conducted in March before Trump had even announced, and later paused his tariff blitz, unexpectedly showed a change in preference regardless of any price increase. The 19,000 consumers were asked if they would look for alternatives to US products if an import tax of 5 per cent, 10 per cent or 20 per cent was imposed by the US and, in retaliation, by the European Union. 'Results show that consumers are very willing to actively move away from US products and services,' the ECB said in a blog post. The median substitution score was 80 on a scale where zero indicates no willingness to buy alternatives to US products and 100 signifies a strong one. When asked for their motivations, 43.7 per cent of respondents cited a change in preference, a bigger share than the 38.1 per cent who said this was down to prices. Accordingly, the willingness to substitute was greater for higher-income households. 'Our findings indicate that, in the current context, consumers' reactions could therefore considerably deviate from standard textbook consumption patterns in response to higher tariffs,' the ECB said. Only 8.9 per cent of respondents said there was a lack of alternatives, which could prove a sore point if EU tariffs were actually imposed on products such as digital services. REUTERS
New Straits Times
30-04-2025
- Business
- New Straits Times
Eurozone consumers happy to ditch US products if hit by tariffs, study finds
FRANKFURT: Eurozone consumers are happy to ditch US products if they are hit by tariffs in the course of a tit-for-tat trade war with US President Donald Trump's administration, a European Central Bank survey showed. The ECB's Consumer Expectations Survey, conducted in March before Trump had even announced, and later paused his tariff blitz, unexpectedly showed a change in preference regardless of any price increase. The 19,000 consumers were asked if they would look for alternatives to US products if an import tax of five per cent, 10 per cent or 20 per cent was imposed by the United States and, in retaliation, by the European Union. "Results show that consumers are very willing to actively move away from US products and services," the ECB said in a blog post. The median substitution score was 80 on a scale where zero indicates no willingness to buy alternatives to US products and 100 signifies a strong one. When asked for their motivations, 43.7 per cent of respondents cited a change in preference, a bigger share than the 38.1 per cent who said this was down to prices. Accordingly, the willingness to substitute was greater for higher-income households. "Our findings indicate that, in the current context, consumers' reactions could therefore considerably deviate from standard textbook consumption patterns in response to higher tariffs," the ECB said. Only 8.9 per cent of respondents said there was a lack of alternatives, which could prove a sore point if EU tariffs were actually imposed on products such as digital services.
Yahoo
30-04-2025
- Business
- Yahoo
Euro zone consumers happy to ditch US products if hit by tariffs, study finds
FRANKFURT (Reuters) -Euro zone consumers are happy to ditch U.S. products if they are hit by tariffs in the course of a tit-for-tat trade war with U.S. President Donald Trump's administration, a European Central Bank survey showed. The ECB's Consumer Expectations Survey, conducted in March before Trump had even announced, and later paused his tariff blitz, unexpectedly showed a change in preference regardless of any price increase. The 19,000 consumers were asked if they would look for alternatives to U.S. products if an import tax of 5%, 10% or 20% was imposed by the United States and, in retaliation, by the European Union. "Results show that consumers are very willing to actively move away from U.S. products and services," the ECB said in a blog post. The median substitution score was 80 on a scale where zero indicates no willingness to buy alternatives to U.S. products and 100 signifies a strong one. When asked for their motivations, 43.7% of respondents cited a change in preference, a bigger share than the 38.1% who said this was down to prices. Accordingly, the willingness to substitute was greater for higher-income households. "Our findings indicate that, in the current context, consumers' reactions could therefore considerably deviate from standard textbook consumption patterns in response to higher tariffs," the ECB said. Only 8.9% of respondents said there was a lack of alternatives, which could prove a sore point if EU tariffs were actually imposed on products such as digital services.
