Parents got their house valued lastnight as they are looking to downsize as its only them left in it.
EA told them prices are now back to 2004 prices. He 'thinks' prices will bottom out at end of this year or start of next year.
My dad asked him if much was selling. The EA said no and this was due to surveyors. They come from outside the city (Derry), dont know the area or the people and value the house at less than that of the EA. This means the banks wont lend enough so people can match or get close to the asking price
I wish i had been there to ask him why he prices houses too high then?