Anger as house prices remain high despite slowdown

unison.ie/irish_independent/ … e_id=15333

Nothing new but the fact that it’s in the Indo today is, I think, something new! It explicitly spells out why developers won’t cut prices, and why they’re offering to pay your mortgage for 6 months or buy you a new tv :slight_smile:

“This was because developers will not resort to price reductions to sell houses because this would mean they were undercutting each other”

Holidays? Thats a new one on me.

Who’s offering them and where to?

Reducing price would reduce revenue … not a good thing for the shareholder (even if it’s a private company). They’re trying to hold revenue while inventory increases … will have to sacrifice some margin.

Secondly, and more improtantly, the last thing the developers (and by extension EA’s, Lenders, Government) want is a slip in the published price. It sounds like it starting to move towards a buyers market …

Blue Horseshoe

this is turning very interesting.

You have on one side the first time buyers who want property to become cheaper so they can “get on the ladder”

On the other side you have property developers who are refusing to cut prices. “Bad for the econeomy , negative equity blah blah blah”

That is it ! the 2 sides , oh hang on a secong how about the third side the private investors/owners who are cutting prices to try and get their property sold before the crash.

When you consider 435k for 3 Bed House in a crap area, just over 1000sq ft. You just know you’re taking the bend too fast.

(T14) Rose, Cruise Park , Tyrrelstown, Dublin 15
myhome.ie/search/property.as … evid=15241

With all the incentives out there at the moment, is it only a matter of time before a “we’ll pay your stamp duty” offer appears somewhere?
Think I may have seen it in a few of the US websites where sellers are looking to get attention without actually admitting defeat and dropping the asking price.

Are there any tax implications of “we’ll pay half your stamp duty” or even we’ll pay all of it …? Can you take large gifts from total strangers who you’re buying from?

Looking at the Revenue Commissioner’s site it looks at first sight as though it’s tax free up to a value of 24,841E for the year 2007.

That being said…I still wonder if it isn’t legally questionable anyway.
[
revenue.ie/index.htm?/revgui … onstax.htm]() for info