Daft Property - Irish Property News

I’M WAITING for the implosion. I feel it in my gut and over many years I’ve learnt to trust gut instinct. Something just doesn’t add up. Why are so few houses on the market these days? You might be fooled into believing there is a glut of properties for sale, until you actually go out to look, whereupon you soon realise the turnover of property is so slow that you are looking at the same selection each week. Indeed, so few houses are coming on the market, particularly at the upper end, that the few potential buyers out there are now frustrated, as the choice is so limited. Why are people not selling? It makes no logical sense given what we now know about the vast numbers of mortgages in arrears. Estate agents say that homeowners at the middle to upper level are not selling because property has lost so much value of late they would prefer to hang on until the market improves. Which is all very logical and reasonable assuming these owners can hang on – but are we talking about