Asking price haven't moved?

LasseBrown

Hi,

Looking at the asking prices for houses (not apartments) in South Dublin (14/18), I can't really follow what I read and hear in the media. At best they have come down by 10-15%, certainly not more. Did the gap between the asking price and final "sale agreed" price just widen? Or is South Dublin the wrong area to look for reductions?
Certainly nobody would advertise at an asking price 50% over what they expect in the end?

D3PO

Priced in D14 & D18 have dropped by more than 10 - 15% and so have asking prices.

when did you start looking at the prices ? Probably only in the last year to 15 months I suspect

who_ru

it's become common practice for all EA's and vested interests to say asking prices have fallen by 50% - it's a mantra and certainly not at all true in most cases. it is yet another cynical exercise to crystalise in the minds of buyers that prices are now at the bottom and can't go any further.

yet in reality prices will fall more, we all know the truth, higher interest rates, falling incomes, increases in taxation ( direct or indirect) the ERSI is forecasting 100,000 more people to leave this country by 2011, no real pick up in the numbers in employment either this year or next. yesterday the regualtor said higher interest rates are here to stay for the foreseeable future.

ignore the 50% propoganda, do your research, check sites like irish property watch, the property pin etc. owning a home in ireland is going to become a lot more expensive.

PCPhoto

give it time..... as others have said, all signs point to prices dropping.

lets face it - an estate agent wants to get the best price for the property - I wouldnt trust ANYTHING they have to say in respect of the financial side of things.

ALL property in this country is still overpriced and will drop - one of the reasons places like D14/18 havent dropped faster than the other areas would be stubbornness by sellers who are reluctant to accept their property has a lot less value and possibly that potential buyers see those areas as "safer" in terms of standard of living. (if ya pay extra then it will mean the "riff-raff" cant afford to purchase)

Freddie59

3% drop since Jan in Waterford. We've hit an impasse. NAMA says we can't sell off these 'cheap houses' as 'property prices would collapse'. Banks won't loan becasue they (shock) believe the properties are overvalued. Interesting. Who'll give way 1st? Certainly not the buyers!:D