Monthly sales of secondhand houses down by 50 per cent yoy

[Green_Bear]

Figures released by the Department of Finance reveal that the monthly sale of secondhand houses has slumped by more than 50 per cent this year. Last January, 5,375 secondhand houses were sold, bringing in €127m in stamp duty to the Department of Finance.
But by October house sales had fallen to a low of just 2,662 sales and a 50 per cent cut in revenue to €68.5m.
Speaking on the issue, Fine Gael TD Richard Bruton noted that these figures “collapsed the government’s claim that we were experiencing a soft landing”.

Monthly sales of secondhand houses down by 50 per cent on last year
independent.ie/national-news … 30009.html

I don’t think the government ever mentioned soft landing, but the VI’s and central bank did.

[verbatim]

2662 sales per month, so a current rate of 32,000 annually. Goodbodys recently used a figure of 42,000 as the total second hand inventory, although daftwatch suggests it’s higher. So 1 year 4 months to clear second-hand inventory.

[Gatelodge]

@verbatim

2662 sales per month, so a current rate of 32,000 annually. Goodbodys recently used a figure of 42,000 as the total second hand inventory, although daftwatch suggests it’s higher. So 1 year 4 months to clear second-hand inventory.

That’s worse than the US.
When are we going to see some figures for new house sales or is that a too closely guarded secret? If the figures are anything like the second hand figures then the CIF projections for house building for 2008 would appear genuine.

[Dreaded_Estate]

That’s very close to the 1 year 5 months we calculated using the IPW data