Sherry Fitz: Dublin house prices 'halved since peak'

Jaysus Marian, that’s never stopped you before! :laughing:

and I still ain’t seeing any value :confused:

Don’t forget the upcoming tax increases and continued downward pressure on wages.

Yeah, this is their latest tactic. They are trying to overstate the drops now so that:
a/ people think they will get value if they buy now
b/ people get the impression we are at or are near to the bottom.

I don’t believe that prices have generally fallen by 50%, - probably around 30% generally.
There are still plenty of stupid asking prices out there.

In two particular estates I’ve been following in Dublin 9, falls in asking prices are 560k to 360k and 640k to 450k.

Even in todays market, I doubt that the sellers would let them for for 265k and 320k respectively, so yeah, 50% is pushing it, agree with raven’s 30-40% as being more likely.

Agreed , similar looking on your average 3 bed semi in Tallaght, Firhouse, Rathfarnham, Ballinteer, etc.

Until the likes of Rathfarnham (I don’t mean Whitechurch!) start hitting 300k or so I won’t believe the “drops of 50%” mantra.

Talking down the market is the new talking up the market.

Won’t make a blind bit of difference. They’re trying to make water flow uphill.

I created my own calendar chart on a magnet board and I mark the dates that every financial expert or property whizzkid says the market will bottom out at.

I’m running out of magnets though.

https://cache.virtualtourist.com/3941560-Travel_Picture-My_travel_magnet_board_is_filling_up_fast.jpg

I noticed that they managed to avoid mentioning what actual figure house prices have halved to.

You make it sound as if that was impossible :laughing:

en.wikipedia.org/wiki/Fore_Abbey … rs_of_Fore

It’s relatively easy to find prices from 2006 and compare them to prices today.

archives.tcm.ie/businesspost/dat … iYear=2006

tribune.ie/archive/article/2006/

Just pick a week and look for the articles on housing.
Most of there were written about multi-unit new developments.
Search for the names in daft and compare the two numbers.

Random paper - tribune.ie/archive/article/2 … y-viewing/

www.daft.ie/1320782
One bed on sale at €390,000
8% drop

One bed apartment on at E220,000
www.daft.ie/1481632
31% drop

Two bed apartment on at E265,000
www.daft.ie/1433515
25% drop

Nothing in Castleforbes Square, but searching for docklands in the address
one beds - from E195,000 (42% drop) daft.ie/1499274
two beds -

and Daft seems to be unavailable.

Didn’t a myhome report say that prices in South dublin went up.

My my Marian is taking much better care of herself nowadays.

FWIW houses in SCD are selling at or around 50% off peak as in banks are lending and people are buying at those values

This is just the latest incarnation of the ‘never been a better time to buy’ shite-ology.

The implication of ‘from peak’ and ‘2003 prices’ is that prices will soon rise again to peak levels.

Not a single mention of unemployment levels in 2003 either, I notice.

The canaryphant in the mineroom.

Picked up by the main news section of the Sindo website today too

independent.ie/national-news … 20393.html

So Sherry Fitz would have no problem approaching a seller with my offer if I offered 52% of a 2006 price. Me bollix they would. :unamused:

I bought a house in SCD in 2002. Based on what the house next door went for last year (and taking 10% off what similar houses in the very general area are asking) I would be reasonably, eh, pleased to get 2002 plus 0-2.5%.

Compared to what other houses in the estate itself sold for between about 2005-2007 that is a fall of about 35-40%.

Based on a ridiculous drive-by valuation done around 2006 its a fall of 47%.

Nama is buying at LTEV, therefore pricing in further drops - Indo then use this as evidence that the market has bottomed.

Indo please go bust, You are incompetent at every level