Irish Times- Dublin house prices down up to 52% according to "Secret house sale data"

[KingKane]

Someone sold the "Secret House"! What will the Seven do now?

[smitchy2]

My new purchase is down 30% from peak. It's good value for where it is and suits me, having a very small mortgage. There is NEVER a good time to buy. The timing suits. I like the property more than anywhere else I have seen and did not want to let it go. I also suspect that I probably might not want to live anywhere the property values decrease by 70%.

Look if your happy with the location and you want to live their long term and have a secure job, you probably are ok with a 30% decrease.
Well, ahead of a lot of people who bought in the last 4 years.

The chances are that the house will more than likely drop more.
Different areas will hold up better than others but the national economic outlook will mean there will not be a significant recovery for 5 years in house prices and they will be dropping for a couple of years before.

[corelli]

Look if your happy with the location and you want to live their long term and have a secure job, you probably are ok with a 30% decrease.
Well, ahead of a lot of people who bought in the last 4 years.

The chances are that the house will more than likely drop more.
Different areas will hold up better than others but the national economic outlook will mean there will not be a significant recovery for 5 years in house prices and they will be dropping for a couple of years before.

As I indicated, I have a very small mortgage. Any negative equity would have to be very very substantial to affect me. I realise I am in a minority in that.

[Eorna]

Circumstances, dear boy, circumstances.

If you have a small mortgage, you should be fine. Best of luck, with your new gaff.

[kerrynorth]

Gaff on sale across the road from me was on sale for €1.15 million two years ago. Sold two months ago on the qt for €500k at auction. The kids simply wanted their inheritence money before the price fell any lower.

You cannot sell on the 'qt' at an auction - do you mean after the auction failed to meet the reserve or secure a bid?

[expat girl]

Gaff a few minutes drive from me (in a much posher area) was on the market at over 6 mill. They put it back on at over 3 mill recently.

I'd say that report is underestimating the falls at the very top end of the market....doubt if it'll sell for that even.

No one has that sort of moolah any more. The lottery winner market is a bit small.

[irish_bob]

I am surprised to see the same property editors and correspondents still writing for the two main daily newspapers. These people really stoked the bubble along with Estate agents. (Remember 'Enfield-only 30 minutes from Dublin'! 'Palmerstown-beautiful sylvan setting' and all such hype about 'getting on the property ladder'). The difference however is that these people were supposedly journalists and NUJ members and capable of some objectivity. Instead they were confirming all the hype and oversell of the estate agents and auctioneers and were a disgrace to their so-called 'profession'. No doubt the newspapers were making so much money from the property boom that no-one ever questioned any of the nonsense and naked sell from estate agents that filled the proprty pages for so many years.
The very least that should happen is that all property pages should have ADVERTISEMENT FEATURE at the top of the page.

the biggest property schill of them all was former property editor of the sindo JOHN O KEEFE , this charlatan used to pimp overseas property mostly , primarily for a ( ahem , friends of his ) recently gone bust agency , the same guy had the neck to appear on seogie each week discussing consumer rights , hes also dean of law at a well known dublin private college

[Tigris Celtica]

One thing that amazes me is the number of properties being marketed as "POA" !
Are they too embarassed to admit what their properties are now worth ? - I mean what kind of plank expects you to buy their house when they won't even tell you the asking price ? !

[hammer]

You would want to be mad to buy a house in this climate.

With property taxes & rates just around the corner - not to mention stamp duty not being adjusted in the budget.

Rents have fallen 20% and will continue to fall.

[seabhcan]

One thing that amazes me is the number of properties being marketed as "POA" !
Are they too embarassed to admit what their properties are now worth ? - I mean what kind of plank expects you to buy their house when they won't even tell you the asking price ? !

Another mysterious one is "Reduced to Sell" on the house ads.