Daft Property - Irish Property News

House prices continue to tumble despite faster selling time... HOUSE prices are continuing to plummet with asking prices now as much as 47pc lower than the peak just four years ago. A new report from property website Daft.ie says that although homes are selling faster, prices are continuing to fall. And the findings are confirmed in a separate report from myhome.ie, albeit with variations in the average asking price for a house. Daft.ie says the average asking price in June was €196,000, down 47pc from the peak. The myhome.ie survey says the average asking price nationally is now €249,000, 40pc down on peak. Prices of new homes are now back at the 2001 level, myhome.ie adds, with average asking prices of €239,000 in Cork, €234,500 in Galway, €185,000 in Limerick, while the Dublin figure is €286,000. Daft.ie said that Dublin asking prices fell by 5.26pc over the past three months, and now the typical figure is half of what it was during the peak in 2007. South County Dub

Family fortunes fall €43,000 in two years... THE average family has lost €43,000 in the value of its pensions, shares, bank deposits and other assets in just two years, shocking new official figures reveal. At the height of the boom, in 2006, the average household had financial assets worth €95,200, but this has now nearly halved to just €51,500 today. The huge fall is highlighted in figures from the Central Statistics Office (CSO). It comes as workers have been hit hard by the introduction of savage income levies and pay cuts. The scale of the destruction of household assets is unprecedented in the history of the State. The losses arise from a sharp fall in the value of pensions, insurance policies, shares and bank deposits, according to the CSO. Stock market collapses over the past year have meant that almost all those with private pensions are now nursing huge losses. The only good news has come from a fall in prices – particularly mortgage costs. Collectively, the 1.5 million hous