Daft Property - Irish Property News

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