Daft Property - Irish Property News

Down, Down, Get On Down... So just how low can it get? Irish Times Property News: "Deep price cuts in end-of-season sales. WITH summer holidays looming and a glut of €1 millon plus homes on the market, and the realisation is finally setting in that a drastic price cut could be required to secure a buyer. While the property market has seen price "adjustments" across the board, heavy discounts are now offer in some cases. In the six properties listed here, the average price cut is 33.4 per cent. The slowdown has been particularly tough on high-end properties, which have a smaller pool of potential buyers. Price drops of over 30 per cent can mean upwards of €1 million being shaved off the asking price. KILLINEY: -31% EIRENE ON Marino Avenue East in Killiney, Co Dublin, came on the market in March at €6 million. Now three months later Savills HOK has cut the asking price to €4.15 million for the two acre property which is a stone's throw from the Dart and beach and may h...

On UTV TV... "Bursting the Bubble... Insight investigates falling housing prices in Northern Ireland... A year after Insight warned that Northern Ireland was witnessing a bubble in the housing market, the programme returns to the subject. Reporter Jamie Delargy explores what has been driving prices down. He talks to those in the construction industry, the removal business and estate agency world whose trade has been impacted by a drastic fall in the number of house sales. One of the big banks here explains why they’ve had to tighten their lending criteria. A home owner explains reveals how she feels about a thirty thousand pound drop in the value of her new home. And we hear about the developers who overpaid for land, some of how now risk going bust." "Bursting the Bubble" Part 1: "Bursting the Bubble" Part 2: "Bursting the Bubble" Part 3:

According to the Sunday Independent Report..." Divorce to soar as economy plummets... LAWYERS are reporting a "massive upsurge" in the number of couples seeking advice on separation and divorce since the beginning of the year, a development which may be linked to the current economic crisis. Some family law solicitors are anticipating that even greater numbers of wealthy people will break up, as the reality of the economic downturn sinks in over the next six to 10 months. Conversely, less well-off couples who want to separate or divorce, are finding they are unable to do so because of the extra expense involved in maintaining separate lives. While the reasons for marriage breakdown inevitably vary, several solicitors working in this area have confirmed to the Sunday Independent that the current economic situation is impinging, in various ways, on couples who have decided to split. As the economy worsens over the months and years ahead, there will almost certainly be sign...