Sunday Independent 23/12

I saw this online, love the first line “prices expected to rise further in the New Year”

Good man Declan.

You sprout words like “likely” “could” “upward pressure” “inevitably” and “active”

But all I see is somone cupping their own fart and smelling it.

What a remarkable piece of spin. The Sindo have really surpassed themselves this time - they’ve managed to find silver linings in the darkest clouds.

This is hilarious. The owners wanted 2m, didn’t get it. Then they wanted 1.75m, didn’t get that either. They finally sold at 1.65m. If waiting is counter-productive, does that mean the buyers should have bought earlier this year at 2m?! Well clearly a house being sold after a 17.5% drop is strong evidence of a recovery in the market.

It’s interesting that they have suddenly resorted to using a site charting property drops as evidence of some kind of recovery. Yet remarkably they left out the most interesting statistic from the last Irishpropertywatch.com report:

Less price drops, less buyers. So in summary nothing much has happened in the Irish property market in December. Nothing to see here.

I can’t believe that the crap in this article is simply poorly researched. It looks like blatant lying. Look at this:

First, those 250 must refer to the 258 drops recorded in the 6 days from 10 December to 15 December:

irishpropertywatch.com

Second, two months ago the data was Myhome, now it is Daft. Apples and oranges.

Third, the “1000 two months ago” must refer to the the 982 drops recorded in the **two weeks **ended 10 September (after that IPW was forced offline by Myhome until late November).

Fourth, we are comparing September to December 10-15 FFS!

Add on top all the regular crap from the usual EA morons and you get something that aspires to be gutter journalism.

There must be a lot of crack cocaine being smoked over at the Sindo offices… :unamused:

The Sindo is a rag anyhow. I would never buy that “newspape.r”

Hence why i looked at it online, but a lot of people do,one thing I would say and maybe this is more appropriate to the CUrrent public sentiment thread. more and more ordinary Joe Soaps are DISBELIEVING the crap being trotted out. I actuallly think that we are now heading if not already in a tailspin where some media will try to outdo each other for the “disaster of the week headline” be it property falls or factory closures. Bad news sells

I wonder whether the latest IPW report will receive the same attention in tomorrow’s paper.

Despite stamp duty cuts and the Christmas/New Years break lull, the number of price drops increased from 250 to 324. There are also a number of 300k+ price drops.

The “time on the market” statistics, which the author originally ignored, are even more telling:

Are these the “signs of recovery” mentioned in the original article?

If you add up the last three Daft reports on IPW, you get 1,000 reductions in asking price in December alone.

I find that quite remarkable, given the time of year and the fact that another one of the reports that trawled drops from mid March to November 9 (close enough to 8 months) there were 8,340 drops, roughly the same 1,000 per month.

I reckon that shows things are definitely not improving.

That makes a mockery of the inaccurate figures in the article which were somehow meant to show that “the rate at which house prices have been falling has slowed”.

Here is yet another report which makes that article from last month look even more ludicrous.

Hmm. Not an agent whose advice I would trust. He told them 1.75m would get them the house, when evidently 1.65m would get them the house.