How much did house prices drop after 2008?

Mad_maxx

Chris_5339762 wrote: »

Bought in 2011, within a month or two of the bottom of the market, for €205k. Sold it eight years later (and a lot of legal wrangling) for €265k. Not too shabby.

In the height of the frenzy I think it was up on sale for about €400k, absolutely ludicrous.

very small increase ?

Darc19

ted1 wrote: »

And they paid 40k cash in stamp duty.

Not on new houses.

Samuel T. Cogley

Chris_5339762 wrote: »

I do know of one farmer who was sitting on say, 100 acres. Sold it for lets say €10 million (I have no idea of the figures involved) during the boom, sat on his money for a few years and then bought the whole lot back for about €2 million when the market crashed and the developer wanted rid. Went back to farming with a tidy profit.

There was a site in Dublin that sold for 950K on the North Strand. I was looking at buying it a few years later for 50K + 15K 'under the table'. Sneaky savvy residents didnt want apartments in their little enclave and got the building listed. Frequently drive by it thinking what could have been, but then I can't get someone to make me a Rad cover let alone take on a project like that.

di7474

Bought our house in 2004 for €430K, next door neighbours bought theirs late 2007 for €640K, dropped to €350K in estate, now back selling circa €580K.

starbaby2003

Not all houses fell off a cliff. We bought in 2014, neighbours bought in 2012. €40k difference. South county Dublin. Large semi D’s.

Chris_5339762

Mad_maxx wrote: »

very small increase ?

Just under 30%, small numbers in the grand scheme of things but I sold to the developers and that meant a saving of about 5 - 10k in fees plus the legal wrangling netted me 10k in interest payments.

Edit: Sadly the complex was in a state that a private sale would have been impossible.

Mad_maxx

Chris_5339762 wrote: »

Just under 30%, small numbers in the grand scheme of things but I sold to the developers and that meant a saving of about 5 - 10k in fees plus the legal wrangling netted me 10k in interest payments.

Edit: Sadly the complex was in a state that a private sale would have been impossible.

So not a typical sale at all

Between the bottom in 2012 and 2020 , prices doubled in much of Dublin

awec

This thread gives a good example of how nuts the noughties were, when you see that in most cases the 2021 value is still significantly below the 2007/08 value.

crossman47

The official index from CSO shows that the peak price level was in 2007 (30% up on a base of Jan 2005). It declined then to just about half that level by 2012 (index around 66) and is now (Jan 2021) just under 16% below that 2007 peak (or 40% above the 2012 low..

jrosen

ted1 wrote: »

And they paid 40k cash in stamp duty.

This...I can just about get over the house value issue but the stamp duty payment will haunt me.