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GALWAY CITY BUCKS NATIONAL HOUSE PRICE TREND ?

  • 03-10-2011 9:13am
    #1
    ArraMusha
    Registered Users, Registered Users 2 Posts: 589 ✭✭✭


    GALWAY CITY BUCKS NATIONAL HOUSE PRICE TREND ?

    In relation to the above misleading headline, the quotation from a wise ole man comes to mind ......."thats me ars(h) that is".

    And that about sums up the 'statement' above as it is based solely on data from 'asking prices' which fluctuate daily (www.daftdrop.com) and don't reflect in any way on sales.

    Although this is the headline reactive society we are in, it is worthwhile to realize it is wrong in that Galway is not bucking any trend on house
    prices, simply auctioneers/people are going into there daft or myhome accounts and dropping their prices, then upping them again, probably after 14pints at 2am from the couch.

    It would be nice to get sales price data wouldn't it...ya, what real money is changing hands? How long has this data been promised. I dont think it
    will ever be possible to get this information in this nod/wink/skive sector.

    With all the mattress money gone, osterity squeezes, unemployment, banks saying clear off no money here and oil and fuel hikes, the only truth is that house asking prices are still too high and nothing is selling or will sell until they drop another 20-30%.
    Tagged:


Comments

  • #2
    zac8
    Registered Users, Registered Users 2 Posts: 532 ✭✭✭zac8


    It's a blip. Same thing happened in Dublin earlier this year and then the falls resumed the following month. We'll be seeing this happen every so often on the painfully slow slide to the bottom.


  • #3
    Jo King
    Banned (with Prison Access) Posts: 2,139 ✭✭✭Jo King


    According to what I hear the recession is more severe in Galway than any other large conurbation. A lot of businesses are struggling with very much reduced turnover, there are numerous bad debts, and properties bought by investors left idle with unpaid mortgages. One bank manager said privately that Galway is the worst place by far for his bank.


  • #4
    Zamboni
    Registered Users, Registered Users 2 Posts: 4,306 ✭✭✭Zamboni


    ArraMusha wrote: »
    It would be nice to get sales price data wouldn't it...ya, what real money is changing hands? How long has this data been promised. I dont think it
    will ever be possible to get this information in this nod/wink/skive sector.

    We do have this information already from the CSO, unfortunately it doesn't drill down into specific properties and prices but it is useful.
    We are also due a promised full price index by Alan Shatter by Xmas.
    http://www.irishtimes.com/newspaper/property/2011/0915/1224304140805.html


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