House prices continue to fall

[Centurian]

We haven't seen anything yet - I predict we'll see falls of at least 60% from the 2006 peak - and more than that in Dublin. That will bring Irish house prices back to sane levels.

I have ZERO sympathy for the greedy builders and developers -and no way should they be bailed out one cent at Irish taxpayers expense.

[riker1969]

Is the TSB/ERSI statistics the only game in town? Are there any other statistics?

[Sidewinder]

Is the TSB/ERSI statistics the only game in town? Are there any other statistics?

The Revenue Commissioners know exactly how many houses are sold and exactly how much each house actually sold for, but they refuse to divulge the information. It's a Secret.

Why? Because of Fianna Fail's long-standing (1963 Planning Act) High Land Price policy upon which everything else in the Republic is built.

You want to know why there's no information in the market? You want to know why your kids are going to school in a rat-infested prefab? You want to know why your granny spent 6 days on a trolly in a corridor at hospital? You want to know why you have to spend 2 or 3 hours every day commuting? You want to know why everything in this country cost 40% more than it costs in any other European country? You want to know why?

Fianna Fail and the utterly corrupt 1963 Planning Act, that's why.

[stalins granny]

The website OpenDNS gives a good idea of whats happening in the market as it records drops in asking prices, however an estate agent aqcuaintance of mine says asking prices have now become an index of the sellers degress of self delusion rather than actual prices being paid.

[the impossibilist]

I got my house valued this week as I need to change mortgage providers. Anyway as I have loads of equity on my house I asked for an honest appraisal of its value. The estate agent says it is worth €350k maybe €340k if I was in a rush to sell. Since I know the peak where I live was around €380k or so it would appear that in fact the drop is about 10%. Maybe these surveys are accurate

Sure if you know the peak was E380k, then potentially so does everyone else. So your house is worth max. E350k.

If I knew you were in a rush to sell, you'd get an offer of E300k, not E340k. Which, if you were in a hurry, you'd take. Cos you're only going to get that in twelve months from now anyway, and you'll have lost a year's deposit interest.

Your figure of 340k in a rush... no way.

[miju]

I have ZERO sympathy for the greedy builders and developers -and no way should they be bailed out one cent at Irish taxpayers expense.

Then do something about it and complain. It will only take two minutes and you can read how to quickly do it online (and completely anonymously here.

So far they've recieved about 120 complaints all of which may make for more interesting times in the not too distant future

[SJL4277]

Without dragging Northern politics into this thread,I've been house hunting recently on both sides of the border and I've noticed house in working class protestant areas are considerably cheaper than working class Catholic areas. Larne seems to be bargain basket for some reason.

I've heard that plenty of protestant working class areas are still in the grip of the paramilitaries, and there's alot of infighting between them. I read an interview with an ex loyalist paramilitary who said that the protestant areas are far more dangerous