Daft Property - Irish Property News

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...

It's Boom To Bust for Ireland - in fact there are so many reports out that it's hard to keep up with them all! Here's a section of an Irish Times report tôday: "HOUSE PRICES plummeted in April as developers began to offload a glut of unsold houses at knock-down prices. But potential buyers grew more nervous about committing to the plunging property market, new figures show. The drop in the price of new homes was almost twice the national rate, as builders were forced to discount prices in an effort to sell a backlog of houses and apartments rather than wait for a bounce in the market. But figures from the Central Bank show that consumers have so far proved reluctant to take them up on the offer in great numbers, with the growth in mortgage lending last month falling to its slowest rate since 1992. The monthly drop in house prices accelerated from 0.7 per cent in March to 1.1 per cent in April, making it increasingly unlikely that the housing market will turn around thi...

www.daft.ie - Quarter 1 2008 Irish property figures are out - and according to today's Irish Independent Newspaper, we are in the middle of major Property price crash! There has been widespread price drops across the country and the trend looks set to continue for the foreseeable future... "ASKING prices for houses in some of the country's most affluent areas have plummeted by a massive 7pc in the space of just three months, according to a new survey published today. The report reveals property prices in the leafy suburbs of south county Dublin tumbled by an average of €40,000, or 6pc, in the first quarter of 2008. In Co Wicklow, prices also took a dramatic nose dive of more than €35,000 (7pc). The average price for a house in south county Dublin now stands at €649,383. Asking prices in Co Wicklow dropped to €445,681, the new survey by Daft.ie has found. Nationwide, the property slump caused asking prices to fall by 1.2pc. The drop is in sharp contrast to late 2007, when a...