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...

The average Dublin house price is now €242,000 according to the latest Daft report... ASKING prices for residential property around the country fell by 19 per cent during 2009 and are now nationally 30 per cent below asking levels in early 2007, according to Daft’s latest house price report published today. The national average asking price for residential property at the end of 2009 was €242,000 – a fall of €107,000 from the peak in early 2007. In Dublin, asking prices have dropped by up to 42 per cent since the peak says the report. Earlier this week the country ’s largest estate agency chain, Sherry FitzGerald, said that house prices had dropped 20.3 per cent nationally in 2009, and in Dublin, had fallen in real terms by 45.7 per cent since 2006. Commenting on the link between price falls and movement on the market, Daft economist Ronan Lyons says that while Dublin saw the largest fall in house prices in 2009 “the total stock for sale in the capital fell by almost 20 per cent over...

The 10 new rules for first-time buyers... 100 per cent mortgages are gone, so are long-term loans – and the easily-flipped starter home is a thing of the past... WITH HOUSE prices down by as much as 50 per cent, property has never looked as affordable – or has it? While prices may have plummeted, people’s incomes have also been slashed, due to a combination of higher taxes, pay cuts and the disappearance of discretionary income such as bonuses, while getting a mortgage has become more difficult as banks tighten up their lending practices. Nevertheless, the collapse in prices means that first-time buyers are slowly coming back to the market. But what lessons should they have learnt from the crisis? 1 ASKING PRICE NOT SALE PRICE What’s a house or an apartment actually worth these days? In the absence of official sale price data and with estate agents prevented from publishing prices (house prices are covered by the Data Protection Act) it is difficult to find out what is is really happen...

Almost €200m was wiped off the value of houses in price reductions in less than a month by sellers desperate to offload their properties, the Sunday Independent can reveal. In what is being described as the introduction of "a major dose of reality" to the housing market, price drops of over 50 per cent have been reported on many houses, particularly in the Dublin area. Price reductions before last month had slowed, with sellers refusing to budge below their expectations, but the lack of activity has forced them to massively reduce their original prices in order to sell, industry figures have said. IrishPropertyWatch.com, which charts property price falls and increases, in a report on the period March 15 to the April 20, showed that over 3,700 properties dropped their prices, while only a small number raised theirs. The largest drop in price was over €1m, from €2.9m to €1.9m, while the average price drop was €41,989. It's report showed that over 80 per cent of houses had ...

Buy my house and get me free - sellers turn to novel ways of enticing customers... 2008 Review: HARD SELL: Want a Lamborghini? A pad in Cape Verde? A wife? These days vendors are getting increasingly desperate, says Paul O'Doherty... SO, IT'S come to this. You're sitting on your stack of blocks that someone in risk management - the irony of it - said would make a great investment five years ago, and now, your Polish long-term tenants have gone home and you can't sell, rent or live in it for love nor money. Or, the bachelor pad has just become a fashion accessory too much - read, I can't afford it - and you're going to move back in with poor Mum and Dad. You can take your pick from any number of examples. Meanwhile, the bank wants to know whether, having missed last month's repayment, you would mind calling in for some financial advice? But how to shift that one-time prime piece of real estate that just won't budge? What you know for certain is that you...