Daft.ie price drop trends on treesdontgrowtothesky.com

I notice on the latest Daft graph at treesdontgrowtothesky.com/ that while the number of price drops on Daft last week is at a similar level to previous weeks (about 600), the number of drops of 8% or more is significantly higher than any other week shown, roughy double the normal amount (and number of drops < 8% is significantly lower)…

The number of drops greater than 8% for the week ending Mar 15th at treesdontgrowtothesky.com/daft_num_drops.php is not as high as the previous week, but still higher than any previous week on the chart.

And the total number of price drops is a new high.

Have they actually release this weeks numbers yet?

No report but graphs seems to show very big number of improvments this week treesdontgrowtothesky.com/da … _large.php

Looking at treesdontgrowtothesky.com/Proper … .03.08.php is would appear Purcell Properties in Waterford have cut the prices of many of the properties on their books by exactly 22.4%?!?!

The prices of at least some of them on daft.ie have not changed. Is this a propertynews.com bug or a Re/max-type sale or… ???

This is an excellent web site - Well done guys…

treesdontgrowtothesky.com/Blog/ is compulsory weekly viewing for me.

This coupled with a daily look at daftwatch.atspace.com/ are the 2 essential factual information sources that cut through all the VI and other spin and show a definitive property crash on a declining trajectory

Without info like this I might have mortgaged my life away and piled into the market any time over the last 16 months!

It’s out now: treesdontgrowtothesky.com/Bl … ng-150308/

This graph shows the key trends

treesdontgrowtothesky.com/da … _large.php

Hi Guys, we removed the drops from Purcell Properties as we suspect that it’s something to do with a euro/sterling conversion gone wrong. Would be interested to know if that’s the case or not?

regards

Sounds like a plausible explanation alright…

“Total Number of Price Drops Detected on Daft” reaches new weekly high.

treesdontgrowtothesky.com/

treesdontgrowtothesky.com/daft_n … _large.php

sez it all but I cannot link a php as an image only as a url link.

New treesdontgrowtothesky.com record last week for number of Daft.ie price drops and also the annualised weekly change in asking prices on Daft.ie

treesdontgrowtothesky.com/

That seems to be progressing as predicted on the Pin.

The apparent pause in the number of drops and the lower size of drops in late Feb early March, wasn’t a sign of stabilisation, just the start of the “selling season”. With summer looming on the horizon sellers are starting to panic a little, as they know if it isn’t sold by the end of May, they will probably still own it at Christmas.

Wow. Last week was nothing. Check out this week’s figures… :astonished:

And a lot of the chunkier drops (at least in Dublin) are new developments (more than normal, it seems to me), where they may be only one listed “drop” covering dozens of apartments/houses. So the “real” figure may be even higher… :open_mouth:

Tell you what, the market is progressing faster than I thought it would. I’m guessing these builders don’t have a choice as the banks are snapping at their heals.
I may have to re-assess my opinion at the end of the summer if this continues. Shockingly I may not have been bearish enough.

And three Irish banks just announced interest rate hikes today.

Perfect storm anyone?

Another record for DAFT price drops this week.

treesdontgrowtothesky.com/

Another 2 Records Mambo.

  1. Most Drop in a Week Ever.

https://www.treesdontgrowtothesky.com/cache/daft_num_drops.png

  1. Highest Average % Drop in a week, Ever

https://www.treesdontgrowtothesky.com/cache/daft_weekly_change.png