Some analysis of Homebond figures from NCB in 2007
The conclusion is equally striking…
Difficult to believe…but not impossible!
How low can you go?
To zero? The Irish property market is oversupplied as evidenced by falling house prices and rents. For sure, a lot of the vacant stock out there is not well built, well located or indeed even suitable for the types of people who want to buy, but we don’t really need to build any more homes.
There is also a good chance the our population will actually fall in the coming years so the junk that we have already built could last us for a few years yet.
Well spotted Verbatim. I feel this will be the max as I think it was about August 2007 that the builders shut off supply.
Remember that one. Quick quick, buy a house now coz once we get rid of the backlog prices are going to go into orbit again.
Hmmm…Daftwatch July 2007 - 44K. July 2008 -74K.
No doubt Maid Marion will be out next month saying that there is a recovery in the registrations when it is only 80% of a drop which indicates something that she will invent on the spot.