Daft IPW Report #12 - 2,531 Drops

It has been awhile but we are back in business

irishpropertywatch.wordpress.com/2008/03/21/daft-ipw-report-12-2531-drops/

Daft IPW Report #12 - 2,531 Drops
Latest Drops
Over the period 22th February to the 19th March there 2,531 price drops and the average drop was €25,953 or 6.6%.
The 2,531 properties reduced the price by €67million in total.
The number of drops per day was 97.
Report available in html and excel formats.

Acording to the above report this property daft.ie/searchsale.daft?id=327346&search=1 has reduced its asking price from 15 million to 10 million. That is some drop, still cant afford the mortgage €43,000 a month just outside my bracket. I wonder would anglo irish bank give me a loan :laughing:

very, very nice gaff

Don’t worry Comical has foretold that ECB interest rates will drop at least 3 times this year, so you’d better get in and snap it up now before prices start rising again.

At €43,000 a month you might have to do it a little tough for the first couple of months, but then once Comical’s 3 promised interest rate cuts transpire and, (of course) they are passed on immediately and in full by your lender, you won’t even notice your mortgage payments!

Just browsing Daft, it seems that a substantial number of houses, mostly in the Midlands, have switched to “Price on Application”. This may be masking the true extent of price drops, as developers in these areas are likely to be accepting prices well below previous asking prices in order to shift empty stock.

It will be interesting to see how this plays out. My guess is that these will eventually be updated with actual euro amounts.

Why? Because in a buyer’s market, forcing the buyer to do ‘extra work’ (i.e. having to contacting the E.A. just to determine the price) will only hurt your property’s chances IMO.

…watch out for the VI spin potential here;

I bet that in April some Midlands based EA will issue a PR advising enquiry numbers are up an incredible 20% on 2007… when in reality all that has happened is that punters are having to ring in to obtain house price details!

I seem to remember H&MD playing this game 6 months back?