Daft Property - Irish Property News

Not a single new home registered by Premier in January... THE private housing market could be in danger of grinding to a complete halt with one of the two home-registration firms in the country not registering a single house in January. The Irish Independent has learned that Premier Guarantee did not register a single housing unit in January, with its larger rival Homebond only registering 149 houses, including just 24 in Dublin. At the peak of the property market in 2006, Homebond was registering 6,122 houses a month or about 72,000 in a full year. Premier, the smaller of the two registration services, was registering about 2,117 houses per month, or almost 25,000 per annum. Of the 149 houses registered with Homebond in January, 62 were in Cork, 16 in Kildare and 24 in Dublin. In most of the other counties there were less than three houses registered, with many counties only registering a single house. One of the few things propping up the housing market now is one-off housing which o

House prices are now at 2003 levels as almost €100,000 has been wiped off the value of an average home. The price of property has plummeted by a massive 31.5pc since the peak in early 2007. Data published by the Permanent TSB/ESRI house price index outlined that the pace of property price declines escalated in 2009, with prices tumbling 18.5pc over the year compared to a fall of 9.1pc in 2008. The standard house price in the country is now €213,000 and the figures deteriorated as the year progressed, with an 8.5pc fall in average prices in the last three months of the past year. Niall O'Grady, general manager of business strategy at Permanent TSB, described 2009 as a "horrendous year" for the Irish housing market. "The pessimist will say there's worse to come. The optimist will argue that affordability has improved so much that things will stabilise soon. But the realist will admit we'll have to wait and see," he said. Separate research from Goodbody ha

Well-heeled south Dublin suburbs, commuter enclaves and student cities have all been devastated by the property price slump. But some have been hit worse than others and the pace of the fall in prices is picking up in some counties and cities. Nick Webb reveals where prices are falling fastest ... 1. Galway City 12.2 per cent drop at end of 2008 HOUSE prices in Galway City are falling faster than anywhere else in the Republic, according to new research. In the final quarter of 2008, house prices fell by a staggering 12.2 per cent. That means that between October to Christmas, the average house price in Galway shed €40,000, falling to just over €303,000 or by close to €450 per day. Galway city house prices have fallen by 21.1 per cent since the height of the property madness in mid-2006, according to Daft findings. The price haemorrhage was slower in Galway county, although it was still the seventh fastest falling market in the last quarter, with prices tumbling 7.2 per cent. Last week&

THE average house has lost almost €46,000 of its property-boom value. Prices fell in October for the 20th month in a row. House prices are now down 15pc from their peak of January/February 2007, according to the latest figures from the Permanent TSB/ESRI house price index. Over the past year prices are down 10.2pc after average prices nationally showed a fall of 0.8pc in October, a marginally smaller drop than in the previous two months. However, many economists feel that price declines have been more severe, with a number of estate agencies estimating that prices are already 30pc off their peak. And new figures out yesterday from the Central Bank seemed to back this up. They showed that residential mortgage lending is at its lowest level in 22 years. Permanent TSB executive Niall O'Grady yesterday defended the accuracy of the house price index. "The index remains as valid as it was when house prices were rising," he said. However, he admitted that there was a three-month