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House asking prices at lowest level since 2006

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  • 10-07-2008 4:26pm
    #1
    jetski
    Registered Users Posts: 820 ✭✭✭


    House asking prices at lowest level since 2006
    Wednesday, 9 July 2008 11:05
    The latest report from the Daft.ie property website says asking prices for houses have fallen by an average of 7.9% over the past 12 months and are now at their lowest level since May 2006.

    Daft.ie's house price report said Monaghan and Sligo had been the most severely affected counties, with drops of 11.8% and 12.8% respectively. The report is based on an analysis of properties posted for sale on the site.

    The website's economist Ronan Lyons said there was 'severe downward pressure' on prices in many areas due to a surplus of houses for sale.

    AdvertisementThe report also found that some sellers had 'unrealistic' price expectations, particularly in South Dublin, where new properties are coming on to the market €60,000 higher than those already for sale in the area.

    http://www.rte.ie/business/2008/0709/daft.html


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    #2
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,466 Mod ✭✭✭✭johnnyskeleton


    Even the ERSI, which apparently lags behind the market, say that sales prices are about 9% down.

    I guess what this shows is that actual sales prices are dropping faster than asking prices.


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