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House prices continue to fall...

  • 06-04-2009 10:47am
    #1
    Ronando
    Closed Accounts Posts: 22 ✭


    Asking prices down 4.2% in the first three months of the year - down about 10% in three months alone in places like Dublin city centre, Waterford city and Sligo.

    Prices now 18% below the peak value on average, up to a quarter off in some places.

    Discussion of the current psychology of economics and house buying here: http://www.daft.ie/report/

    More on the trends, including a tantalising chart which suggests the largest falls may be behind us, here: http://ronanlyons.wordpress.com/2009/04/06/irish-house-prices-fall-4-since-the-start-of-2009-latest-daftie-report/

    How much will house prices fall in 2009? 8 votes

    5% or less
    0% 0 votes
    5%-10%
    0% 0 votes
    10%-15%
    37% 3 votes
    15% or more
    62% 5 votes


Comments

  • #2
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    Daft.ie and their voodoo have no place on the Economics forum :pac:

    Any research done on the differential between asking prices and actual prices? One suspects there could be a considerable wedge.


  • #3
    Ronando
    Closed Accounts Posts: 22 ✭Ronando


    Unfortunately not that I'm aware of yet, but anecdotally I think it's fair to say that closing prices were probably 5% above asking at peak and are now 10% below, suggesting a 33% (5+10+18%) fall from peak so far...

    The one measure of closing prices that we do have is PTSB, which is saying only 20% from peak, which I'm not sure tallies with experience on the ground.

    And now back to the voodoo.


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