IrishPropertyWatch - Daft Report #1 - 422 Drops

The first IPW analysis of Daft.ie has revealed ~422 price drops over a 7-day period last week. It’ll be interesting to see whether there’s a large amount of overlap between MyHome & Daft price drops - so if anyone would like to volunteer their eyeballs… :wink:

irishpropertywatch.com

Great work Soma!

PM me and I’ll have a look over the results for matches!

edit oh, all stats are up already! I’ll give it a gander.

Well done Soma!

Its interesting to see that the top 20 with the greatest % fall are outside Dublin. I had expected to Dublin properties feature heavily in these ranks.

co. mayo gets a pasting.

Great work Soma. I scanned through a number of the price drops and didn’t notice any reference in the agents blurb, to the fact that the price of the property had been reduced. Why drop the price and not advertise the fact? If you were selling any other product or service the fact that the price had been reduced, would be a headliner. Says all that needs to be said about agents confidence in the resilience of the market. :confused:

This property states it specifically, saying “REDUCED TO SELL.” :open_mouth: (The herd well and truly making for the exits now…) They’ve dropped it by 30,000.

New: 495,000 [*Link * (https://www.myhome.ie/search/property.asp?id=297087&np=&rt=search&searchlist=)

Old: 525,000 [*Link * (https://216.239.59.104/search?q=cache:nsNgj_iuZyAJ:www.daft.ie/searchsale.daft%3Fsearch%3D1%26selected_agent%3D%26id%3D170771%26s%5Bagent_id%5D%3D841%26s%5Bp%5D%3Dqpwvypws+91c+Tolka+Estate+,+Glasnevin&hl=en&ct=clnk&cd=1&gl=ie)

EAs still don’t want to admit prices are falling! Have a listen to yesterday’s drive time to hear an EA explain why giving someone 10k to buy your house is not lowering the value of the house… bind boggling stuff!

rte.ie/news/2007/0320/drivetime.html “Live Free for 6 months”

Quote: "We’ve all heard of ‘investing in your property’, but this is ‘investing in the sale of your property’’…

I believe “and Jesus wept…” is the following line. How do these liars sleep at night?

My favourite one was “The value of the property is not in doubt”…
rrriiiiggghhhttttt…

Somebody should keep a record of the worst offenders, so that after the ‘correction’ their credibility can be called into question. I mean, I read somwehere recently, that Cormac McCarthy said that investing in bricks and mortar was still one of the best investments around (quote may not be exactly accurate - but this was the jist). He also went on to say that ‘houses will be built and houses will be sold’ - yes Cormac but at what price?

“the worst offenders” will get the best marketing jobs - is there no justice :frowning:

Super work soma, it’s a eye opener for sure to read through the list.

As the weeks roll by, no doubt some of the back of Ballivor “Band 2” (©2Pac) properties will experience more drops. Do you have any plans to reflect the original asking and amount of drops so far at some point?

It’s all about swinging whatever way the wind blows. Next year it’ll be another wheeze. The Irish property market is dead long live the king.