Dublin property prices down 27%

[pfkf1]

Dublin has suffered the worst hits to the property market, with house prices falling by up to 27% in the past year alone.

The Sunday Times property survey has shown that the most expensive areas like Dalkey and Killiney were the worst affected, with prices plummeting by as much as €2m.

Most counties saw house prices falling by up to 11%, but Donegal, Westmeath and Killarney saw prices increasing over the past 12 months.

http://breakingnews.ie/ireland/mheygbkfidql/


This is just another indication of the fact that the housing market is over for the mid to long term future.

[ghost]

My heart bleeds for all of the poor property owners in Dalkey and Killiney.

[Rabbitsears]

I've long believed the Irish property market was more like the South Sea Bubble than a realistic economic trend, and this simply proves it. Can't see FF trying to get anyone to build their way out of a recession with such a glut of property on the market.

[irishpeoplearewhingers]

I have yet to see it ...I have been looking to buy and have not seen the places I want to live in drop by that much....5-10% at best....i hope though that the analysts are right....that would be a big help to me....

[Rabbitsears]

I think right now you could put an offer in of 90% of the asking price and get it.

[pauriceenjack]

An old rule of the UK Building societies was that people could afford a mortgage or rent of 25% of their after tax income

It had to happen.

The worst is yet to come

[sodabrab]

Not too sure of that guys I hope so. I've been bidding for a few houses at this stage and almost all have gone for or above asking price.

[bogsider16]

All the better now maybe young people won't have 40 year ball and chains hanging around their necks just to get a 2 bedroom terraced house in Sallynoggin.

It was always gonna happen eventually.
Now maybe we can concentrate on redeveloping our industries in order to make them more competitve rather than fooling ourselves about a property bubble that was indestructable.

[ballot stuffer]

Not too sure of that guys I hope so. I've been bidding for a few houses at this stage and almost all have gone for or above asking price.

out of interest who gave you that info?

[sodabrab]

Biddi ng myself on 3 houses most recent house was in Leopardstown asking price €510,000 sold for €520,000 - 3 bidders.