Daft Property - Irish Property News

The property dilemma -- to sit tight or cut your losses? It's a dilemma hitting thousands -- especially young couples living in apartments. What do they do -- sell now or hold on? Many of them were frightened on to the bottom rung of the property ladder and now find themselves in a home which is too small for their needs. They are asking themselves if they should take the hit on negative equity, and buy a house which can accommodate a growing family. And even if they do, where will they get the money to buy another property? A few years ago, many had held on in the hope of a soft landing, but now are wondering whether they should bite the bullet and jump. Already price falls of 40pc to 50pc have made family houses much more affordable. However, many couples who sell an apartment that they bought in the boom could find that the sale price is far less than the amount they owe to the bank. Banks are slow to allow them to sell, trade up and carry over the negative equit

Bulldozers send boomtime buildings crashing down... TWO unfinished houses that would have fetched €200,000 each during the boom have been bulldozed because of public safety fears. The unoccupied houses -- and foundations for three more -- were levelled at Church View in Clongeen, Co Wexford, at a cost to the taxpayer of €28,000. Other residents of the estate last night said they were relieved that Wexford County Council had taken action against the developers, Impulse Construction Ltd, by knocking down the houses. They said the unfinished houses had attracted vandals and encouraged anti-social behaviour for some time, and were unsightly at the entrance to the estate. This was the first time houses had been demolished in a new estate in Wexford, but the Department of the Environment confirmed other houses had been demolished on a small number of occasions. Wexford County Council confirmed it has more plans in the pipeline to carry out "public safety works which may involv