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About LinkBacksDoesn't look like the property market has bottomed out just yet.
2,009 price drops in the last 3 weeks, 1 property in 25 has dropped the price in the last 3 weeks alone.
http://irishpropertywatch.wordpress.com ... -of-drops/
Doesn't look like the property market has bottomed out just yet.
2,009 price drops in the last 3 weeks, 1 property in 25 has dropped the price in the last 3 weeks alone.
http://irishpropertywatch.wordpress.com ... -of-drops/
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Jan is always a strange time in prop market as no one buys from late Nov so market sits back until post Christmas
Why? Do prices usually fall this much in January?Originally Posted by odie1kanobe
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That's spooky. Positive sentiment is no longer part of the market. It will be very interesting to see how much value was attached to it. A lot more than we think, I'd imagine.
The only way to change the world is to win elections.
This boom is not getting boomier...
I wonder if Noel Ahern would like to revisit his outrageous summertime comments encouraging young people to buy property? I'd imagine anybody who took his advice is full of hate...
Who would buy in a falling market unless they got huge discount such as to neutralise the effect of further pricedrops
...and now with rents falling even the most moronic of 'investor' is going to twig that the game is up. Does anyone have any info on land/site asking prices?
The land prices are last to slump. Site sale prices for the last few years were predicated on the building units going up 20% inorder for the developer to make a profit.
The optimistic developers bought in and are already facing a 20% drop in building unit value.
Th e established developers who had older landbanks will not be effected, but the smaller ones will be eaten alive.
I don't have the figures to hand but land values is the segment of the market that have taken the hardest hit. Which makes sense really as it is the only true variable in development costs. A large site in Sandyford recently sold for circa 25% less than the asking price.
Its generally worth 30% more with an optimum planning grant, than without
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