Daft Property - Irish Property News

Dublin apartment prices now down 62pc, says CSO THE house prices freefall has worsened, with some properties now up to 62pc cheaper than at the height of the boom five years ago. February alone saw one of the largest single monthly falls on record - 2.2pc, a figure surpassed only during two months in spring 2009. Apartments in Dublin are worst hit by the crash, while the overall fall in the value of all properties in the capital is now up to 57pc. The Central Statistics Office also warned that in the last 12 months prices have come down by 17.8pc. That is compared to a 10.8% fall in the year to February 2011. A breakdown of the Residential Property Price Index since the slump hit exactly five years ago showed: - Nationally, the crash has wiped 49pc off values; - Houses in Dublin are down 56pc but apartments 62pc - Outside of the capital, prices are down 45pc on average. Although the CSO does not give actual prices, houses in Dublin were believed to be worth about €43...

NCB Stockbrokers said the price of buying a home will fall by at least a fifth in the years ahead as Ireland recovers "from the largest credit and housing bubble in OECD history". The Dublin-based broker calculated that the eventual national decline from peak to trough will be 60pc. Average prices have fallen 47pc so far which implies that prices must fall by at least another 20pc before hitting rock bottom. "The boost from domestic demand will not be material until 2013. Unemployment, currently 14.3pc, will remain above 10pc until 2016," NCB economist Brian Devine warned. "As such, there should be no surprise that property prices continue to decline, mortgage arrears continue to rise and retail sales remain weak," he said. Prices in Dublin have already fallen close to this amount with apartment prices in Dublin down 58pc and house prices in Dublin down 54pc. Mr Devine said he remains worried about the fundamentals underpinning the Irish economy but kept ...

The next Allsop Space Auction will take place on 1st March 2012... Venue: The Shelbourne Hotel Dublin 2 Online Catalogue: Lot     Type     Location     Reserve Price will not exceed this figure 1    Investment Flat    Dublin 1    €135,000 2    Investment Flat    Dublin 8    €120,000 3    Investment Leasehold House    Galway City    €75,000 4    Investment Flat    Dublin 8    €90,000 5    Vacant Freehold House    Drogheda    €100,000 6    Vacant Freehold House    Enniscrone    €55,000 7    Vacant Freehold House    Dingle    €50,000 8    Investment Flat    Dublin 1    €175,000 9 ...

House prices now under €200k, lowest since 2000... HOUSE prices in Dublin have fallen below the €200,000 barrier for the first time since the early months of 2000. Values fell by almost 17pc last year - the fastest annual decline in almost two years, official figures have revealed. The average cost of a home is now about €165,000 based on prices at the peak of the property boom in February 2007 while in Dublin prices have fallen to €198,260. The Central Statistics Office (CSO) has reported prices down by 47pc in the last five years. On top of that huge crash, the record for December shows house prices falling at their fastest rate since February 2010 and a steady increase in the rate of decline all through 2011. The average price paid for a house nationally in February 2007 was euro €311,078, while in Dublin it was €431,000, according to the accepted report on mortgage drawdowns by Permanent TSB. Based on those figures and the CSO's rate of decline, average prices ...

An oversupply of housing and continued uncertainty are among reasons there is little hope of growth in the residential market... IN SPITE of last month’s budget measures aimed at stimulating the property market, there are six reasons why the market will remain slow to recover. The National Institute for Regional and Spatial Analysis (NIRSA) at NUI Maynooth is one of the few bodies which has been consistently researching the housing market with any degree of rigour. It believes that the budget measures aimed at boosting the residential property market won’t work. Firstly, prices are still falling, or “unwinding”, and most analysis suggests they will continue to fall for up to the next 24 months. No correction can happen until prices stop falling. But even when they do stabilise, there are other issues to take into account. We have a massive oversupply of housing. CSO figures say 14.7 per cent of the total stock is vacant. My calculations say that excluding second a...

MANY PEOPLE selling their homes are still looking for prices higher than buyers are likely to pay – and the difference between asking and selling prices can be as much as 20 per cent. For while property website surveys published this week show residential property price falls since the peak of the property boom of between 43 and 52 per cent nationally, estate agents say that actual selling prices are now down by around 60 per cent and more. The lack of specific information about property sales prices means that buyers and sellers are still largely in the dark about what is actually happening in the property market. This should change in June, when a property price register detailing recent sales, with addresses and prices, is published by the Property Services Regulatory Authority (PSRA). The figures published by property websites MyHome and Daft are all based on asking prices. Meanwhile, the CSO’s most recent residential property price index, published in late December, showed prices...

THERE was further gloom for homeowners after property prices plunged again last month. Prices have been diving now for almost four years. And there is no let-up in sight, with economists predicting prices will keep going down next year. The average residential property has lost almost €150,000 in value since the peak and is now worth around €169,000, according to the latest gloomy figures. Around €232,000 has been wiped off the value of houses and apartments in Dublin as the capital continues to suffer much sharper price declines than the rest of the country. The new figures from the CSO also show that the annual rate of decline in prices jumped to 15.6pc in November. Prices fell by 1.5pc last month and are now down 46pc from the peak of the market in early 2007, the official figures show. The CSO only gives percentage changes, but analysts have calculated that the price of an average property is now just €169,000. This is down from €314,000 when the property bubble was at its m...