IPW Report # 31 - 2,234 Price Drops & 106 Price Increase

This report is over the 2 week period, the 3rd to the 17th of August 2008.

The drops per day on Daft was 119 down from 127 last week.

There were 2,234 drops and the average drop was €28,803.
Over the same period there were 106 increases and the average increase was €44,366.


We have also added the functionality to search the property database my the number of drops and/or number of increases

For example -

24 With 5 or more Price Drops

What explains price rises? Are there vendors out there still of the mind that the market is on the up? Or is the reason that people put the price up only so they can later revert to the original price and claim they have knocked tens of thousands off the price?

God know really. Quite a few properties with increases are moving the price all over the place from week to week. For example looking at the places with 3 or more increases in Dublin most have also dropped the price more than 3 times. Don’t understand the logic but they must be trying to effect bids in some way.

I think they live in hope another mug will be along any minute now. Idiots

I have seen this in some apartments for rent that I am monitoring, it seems after a few weeks of lack of interest some bright spark thinks that the way to stimulate interest is to rise the price. Maybe if they tried moving the price in the other direction. Not sure if it is the letting agent thinking that at whatever price they have specificed the apartment doesn’t seem exclusive enough.

A very interesting statistic, possibly more interesting to monitor than the #decreases/increases.

Suggest it might be stickey keyboards in the agents offices :laughing:

Errors then have to be corrected.