Property Bubble Sentiment

Overview

What is Homefacts.ie
Let's be clear before we start that Homefacts.ie is an advertisement. It isn't an objective information site aimed at helping buyers to decide whether or not to buy. It is an advertisement aimed at convincing buyers to buy.

The site is published by the Irish Home Builders Association and the Construction Industry Federation. It was created by First Advertising. And it's a fairly safe bet that the brief was something along the lines of:

"convince people to buy houses, but dress it up as an information website so it won't look like an advertisement".

If Homefacts.ie was an information site then it would have included information on both the Pros AND Cons of buying. The site is heavy on pros and light on cons.

Sadly, as we'll see, some of the Pros don't even stack up.

Site Layout
The site itself is a straightforward brochure. This was never intended to be a site that would be updated regularly to keep buyers up to date with the latest developments (pardon the pun) in the home buying business. The process of buying a house isn't something that changes dramatically from day to day.

There is no forum to ask questions. The contact screen gives you the email address of the CIF. This is not a site that you are meant to interact with.

That said, most of the information that's presented is easy to find and is clear and concise. There are about a dozen pages of information all of which can be accessed directly from the main screen.

What is the IHBA/CIF?
The CIF is a lobby group representing companies in the construction industry. It's important to note that the CIF represents companies rather than individual workers. This is why the CIF has lobbied to cut the wages of construction workers, and has threatened to oppose the National Pay deal.

The IHBA is a part of the CIF and it specifically represents Home Builders. It's members operate to strict codes of practice in relation to the construction and delivery of housing developments.

According to HomeFacts.ie the IHBA "operates a voluntary Code of Practice, the Home Purchase Protection Pledge, which is obligatory on all members. It outlines the manner in which booking deposits, issuing of contracts and stage payments must be handled by member firms and purchasers. It offers anti gazumping protection for those purchasing from a member firm."

The Home Purchase Protection Pledge sounds good, although it's not clear whether it's a "voluntary" code or practice or an "obligatory" one. The site provides a six page downloadable document which explains the Pledge in detail.

The IHBA also have rules surrounding Management Companies. Again there's a downloadable document providing information.

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