• It has come to our attention that some users may have been "banned" when they tried to change their passwords after the site was hacked due to a glitch in the old vBulletin software. This would have occurred around the end of February and does not apply after the site was converted to Xenforo. If you believe you were affected by this, please contact a staff member or use the Contact us link at the bottom of any forum page.

Residential Property Prices fall by 3.3% in the year to January 2013


Belodedici

Well-known member
Joined
Oct 25, 2010
Messages
785
In the year to January, residential property prices at a national level, fell by 3.3%.
This compares with an annual rate of decline of 4.5% in December and a decline of
17.4% recorded in the twelve months to January 2012.

Residential property prices fell by 0.6% in the month of January. This compares
with a decrease of 0.5% recorded in December and a decline of 1.9% recorded in
January of last year.

In Dublin residential property prices rose by 0.5% in January and were 2.1% higher
than a year ago. Dublin house prices rose by 0.3% in the month and were 2.8%
higher compared to a year earlier. Dublin apartment prices were 4.6% lower when
compared with the same month of 2012.

http://www.cso.ie/en/media/csoie/releasespublications/documents/prices/2013/rppi_jan2013.pdf
 

freewillie

Well-known member
Joined
Feb 3, 2013
Messages
7,491
In the year to January, residential property prices at a national level, fell by 3.3%.
This compares with an annual rate of decline of 4.5% in December and a decline of
17.4% recorded in the twelve months to January 2012.

Residential property prices fell by 0.6% in the month of January. This compares
with a decrease of 0.5% recorded in December and a decline of 1.9% recorded in
January of last year.

In Dublin residential property prices rose by 0.5% in January and were 2.1% higher
than a year ago. Dublin house prices rose by 0.3% in the month and were 2.8%
higher compared to a year earlier. Dublin apartment prices were 4.6% lower when
compared with the same month of 2012.

http://www.cso.ie/en/media/csoie/releasespublications/documents/prices/2013/rppi_jan2013.pdf
There is a significant difference in the Dublin market with prices in the so called better areas stabilising and rising. Anecdotal evidence shows increased numbers attending viewings etc. If the banks start releasing mortgages it will all kick off again.

GET IN EARLY!!!!
 

Howya

Well-known member
Joined
Feb 29, 2012
Messages
1,690
How many times in the next few days will we hear the phrase "the property market is stabilising"?
 

Belodedici

Well-known member
Joined
Oct 25, 2010
Messages
785
There is a significant difference in the Dublin market with prices in the so called better areas stabilising and rising. Anecdotal evidence shows increased numbers attending viewings etc. If the banks start releasing mortgages it will all kick off again.

GET IN EARLY!!!!
Yeah right, twisted sense of logic after that YoY decrease, just before the Property Tax, Water Charge, Broadcast Charge, Emigration statistics and the upcoming BTL Repossessions.
 
G

Gimpanzee

How many times in the next few days will we hear the phrase "the property market is stabilising"?
My rule of thumb in recent times is to divide the amount of times that I am told that it is not stabilising by two.
 

Howya

Well-known member
Joined
Feb 29, 2012
Messages
1,690
My rule of thumb in recent times is to divide the amount of times that I am told that it is not stabilising by two.
And the other favourite phrase - the rate of decrease is ameliorating.
 

Dunlin3

Well-known member
Joined
Jan 31, 2009
Messages
3,182
Modest falls, with 290,000 people about to receive pay cuts I can't see too many changes this year.
 

Paddyc

Well-known member
Joined
Jan 30, 2009
Messages
9,265
But, but, but,

The SINDO told me that prices were rising?

How could this be?
 

sic transit

Well-known member
Joined
Jan 30, 2008
Messages
25,579
How many times in the next few days will we hear the phrase "the property market is stabilising"?
It's probably nearer its bottom now and eventually it will. Probably sooner than some like to think.
 

Dublin 4

Well-known member
Joined
Feb 6, 2011
Messages
12,993
The CSO Exclude cash sales- how many times does this have to be repeated.

Dublin prices are collapsing- check Daft Drop & the Property Price Reg...
 

Vega1447

Well-known member
Joined
Oct 18, 2007
Messages
5,783
The CSO Exclude cash sales- how many times does this have to be repeated.

Dublin prices are collapsing- check Daft Drop & the Property Price Reg...
It is remarkable how rarely this is mentioned....
 

Dublin 4

Well-known member
Joined
Feb 6, 2011
Messages
12,993
Republic of Ireland
The month of February saw 188 property increases, with an average price increase of €36,597, and 2,180 decreases with an average decrease of €35,006, bringing the national average price to €201,644.
County DUBLIN January Breakdown (click to search)
Number of houses for sale: 4,005
Average price: €305,412
Overall price sum: €1,223,178,362
County DUBLIN February Breakdown (click to search)
Number of houses for sale: 3,787
Average price: €305,168
Overall price sum: €1,155,672,317
DaftDrop: The Irish house, apartment & site price history tracker.

Average House Price at an all time low of €178,615.69!

Irish Property Price Register ::: Graphs
 
B

Boggle

Wait until the reposesions start in earnest...

Anyway, while property is on the way down it's time to introduce a speculator tax and tax all empty residential buildings and unfinished units. The lower the property price, the lower the wage demands, the more competitive the economy and the more money people have to spend.

What kind of an idiot believes high property prices are a good thing is totally beyond my understanding. It's almost s though critical thought gets switched off once you join a political party and start having to ... obey the whip. Oh.
 
S

simeongrimes

People need to take into consideration where the property tax will end up. Between taxes rates and charges they will eventually be looking for about 3k per year from the average householder. That's like an extra three months mortgage and should be reflected in the prices offered. It is the right policy in my view as it will depress prices and help us avoid the next bubble. But don't get caught buying before the prices reflect it.
 

Keith-M

Well-known member
Joined
Jul 24, 2007
Messages
15,779
Website
www.allkindsofeverything.ie
Recovery you say? Not in the property market

Property prices down 3.3% on an annual basis - RTÉ News


Property prices continue to tumble. We must now have gotten to the stage where it is totally uneconomic to build any new property, given the surplus in the market and the cost of building and the price you'll get. Why do we have a single homeless person in the country, given our excess of housing stock?
 

ruserious

Well-known member
Joined
Jan 3, 2011
Messages
29,597
Good, they were over priced to begin with. This brings us one step closer to a normal housing market.
 

wexfordman

Well-known member
Joined
Nov 19, 2006
Messages
7,877
Property prices down 3.3% on an annual basis - RTÉ News


Property prices continue to tumble. We must now have gotten to the stage where it is totally uneconomic to build any new property, given the surplus in the market and the cost of building and the price you'll get.

on the plus side, the prop tax is going down too so :)

Why do we have a single homeless person in the country, given our excess of housing stock?
Cos they couldnt afford the property tax!
 

noodles

Well-known member
Joined
May 4, 2007
Messages
416
To be fair 3.3% in a year is hardly 'Tumbling'.

Sure there is more to go but OP a bit sensationalist.
 
Top