http://irishpropertywatch.wordpress.com ... 531-drops/
Latest Drops
Over the period 22th February to the 19th March there 2,531 price drops and the average drop was €25,953 or 6.6%.
The 2,531 properties reduced the price by €67million in total.
The number of drops per day was 97.
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The average number of drops was 110+ up to now. Why is there such a major drop in the number of price drops? It could be the market reaching the bottom. I counted 6 houses selling for above their AMV in Property Plus today and in yesterday's IT supplement, all provincial auctions were successful.
Private profit for public gain!
http://www.daft.ie/searchsale.daft?id=170116&search=1
This place, which is top of the list and which is about 10 miles from where I live, is typical of what is happening in rural Ireland.
Some bollix applies for planning on a prime scenic site on the basis that he has a housing needs, gets permission, builds a massive house and then bungs it on the market with out ever even living in it.
He has now dropped the price from €1.5m to €650k.
I might offer him €50k for it, provided he throws in the widescreen television.
The only way to change the world is to win elections.
€1.5 million to €650,000? That's a big drop.
Private profit for public gain!
I'm selling my place at the mo, it's been on the market since the end of Jan. I've had about 5 viewings in the last week, 2 more scheduled for next week so far. I've had 2 bids, one has been exactly what my asking price is, expecting the deposit next week (although my asking price is approx 5% lower than I had hoped). I don't know if this is the market increasing or if this is just the Spring market kicking in.Originally Posted by Ard-Taoiseach
There is massive value in the second hand market at the moment, and I don't see some portions of this market dropping any further. I do see the middle/higher end of the market continuing to find it difficult for a while longer... as the new house market will too.
Yeah, there does seem to be volume returning to the market and the number of auctions has gone from virtually none last year to a steady clip since February. The number of houses for sale in my area has gone down a little over 10% since the start of the year. It seems like the market has come unstuck and is adjusting to a lower plateau.I'm selling my place at the mo, it's been on the market since the end of Jan. I've had about 5 viewings in the last week, 2 more scheduled for next week so far. I've had 2 bids, one has been exactly what my asking price is, expecting the deposit next week (although my asking price is approx 5% lower than I had hoped). I don't know if this is the market increasing or if this is just the Spring market kicking in.
There is massive value in the second hand market at the moment, and I don't see some portions of this market dropping any further. I do see the middle/higher end of the market continuing to find it difficult for a while longer... as the new house market will too.
Private profit for public gain!
[quote=Ard-Taoiseach]Yeah, there does seem to be volume returning to the market and the number of auctions has gone from virtually none last year to a steady clip since February. The number of houses for sale in my area has gone down a little over 10% since the start of the year. It seems like the market has come unstuck and is adjusting to a lower plateau.[/quote:2g24pr9n]I'm selling my place at the mo, it's been on the market since the end of Jan. I've had about 5 viewings in the last week, 2 more scheduled for next week so far. I've had 2 bids, one has been exactly what my asking price is, expecting the deposit next week (although my asking price is approx 5% lower than I had hoped). I don't know if this is the market increasing or if this is just the Spring market kicking in.
There is massive value in the second hand market at the moment, and I don't see some portions of this market dropping any further. I do see the middle/higher end of the market continuing to find it difficult for a while longer... as the new house market will too.
As it is if I rented out my place the rent would cover my mortgage by a couple of hundred euro, not bad considering my mortgage is only three years old.
You've got it pretty good, then. There'll be a lot of people out there envious of that position. I suppose you can be relaxed about the selling process then. Well done for getting an offer at asking price. Yourself and the agent can use that to push up the sale price by 5-10%.
Private profit for public gain!
Price drops or not you still can't realise your dream and live next to the Cookiemonster for les that €1.5m.
A poster of some consequence...
There's always renting!
Private profit for public gain!
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