New Daft Report Q2 2008

daft.ie/report/index.daft

Price trends
Asking prices were down 7.9% nationally in the 12 month period to June 2008. Prices declined in every county over the past year with the sharpest falls recorded in Dublin, the commuter counties of Leinster and parts of Connacht/Ulster. Asking prices have held up much better in Munster, in Limerick, for example, prices have only fallen 1.6% in the past 12 months and actually increased marginally in the most recent quarter. It also appears that the pace of price decline has eased in Dublin in the most recent quarter but has accelerated in the rest of Leinster and in much of Connacht/Ulster.

Good news.

It is interesting that the decline of house prices has slowed even though the supply in Dublin has increase by roughly 20% in the same time. Are people getting these prices, or are people hitting the point at which they “can’t sell for any lower than €X”

most important word in that report?

‘Asking’

Dont; read too much into this, these are average asking prices, there are thousands of properties on daft that have been there for months, some well over a year, with no change in asking price.

Averages in this case are highly misleading, and other than demonstrating a general trend downwards in asking price, really serve no other purpose. There is unsufficient context to extract any really meaningful statistical information or to perform any real analysis.

What I said elsewhere. It simply means that it’ll take longer and longer. These sellers are destined to chase the market down.

What a gimp.

From the article:

apparently you are a coward if you don’t throw your money after a downward spiraling market.

i feel the urge to kick someone in the nads.

Meanwhile in the ghost estates… housing registrations down 99.2% on 2006 :open_mouth:
What will this do to the local economy.

To extrapolate these figures nationally, Longford was registering houses at a rate of 192,000 p.a. in 2006.
This has fallen to 1,480 p.a. in 2008.

That can’t be right

That figure is based on only 5 months in 2006 so I looked up the equivalent figure for the whole year of 2006 which was 1,608 registrations.

environ.ie/en/Publications/S … 293,en.XLS

2006 Republic of Ireland population = 4,239,848
2006 Longford county population = 34,361

1,608 * (4,239,848 / 34,361) = 198,413 registrations scaled up for national population.

Madness on an incomprehensible scale! :confused:

So to look at that a slightly different way…

34361 people is 4727 households (based on average hoursehold size of 2.94 in 2006) which would imply that 14% of Longfords population would get a shiny new house every year. Happy days…