Finally, the crash has been widely discussed in Dublin. My local newspaper (dun laoghaire express) titles today on the front page:

- 'house prices in meltdown'
- values down as much as 30%
- gives an example of one house being dropped from 30million to 20 million
-gives another of one being dropped by 55k to 395k EUR
- quotes an estate agent saying ' there is virtually no residential market at all in South Dublin'
- quotes an economist saying ' this can't be described in any other way than a crash'

goes on and on about how overpriced things were and how bad things continue to be throughout next year.

I don't think this is bad at all, I think this was long overdue !

How has the UK been doing, is it next to crash ?

uforia98

"How has the UK been doing, is it next to crash ?"

Oh god, we hope and pray it will!

I’m not familiar with your paper. Is it a broadsheet or a tabloid? Does it quote any figures from nationally recognised bodies that show house prices falling? If it does fine, otherwise you shouldn’t make any conclusions based on two individual transactions. (For example, when the market was rising there will have been instances where the seller has been in a forced sale position and taken a lot less than they expected.)

I’ve thought that prices in the UK have been dangerously high for some time. Prices seem to be levelling off, but a crash could be on the horizon. (Credit crunch, affordability, weakening economy, consumer confidence.)

the data in that newspaper is certainly not scientific and has not stats or anything. just anecdotal evidence from some estate agents. They quote one who had to let all his staff go and another one who said the staff now only works off commission. You are right, this is not representative, however, this is a significant shift in sentiments which is evidenced on what is happening on the street. it is quite unusual for EAs to give these kind of statements when previously they said we will see the ominous 'soft landing'.

We also know a couple who was able buy a house which had an asking price of 600k for 450k. Shows how ridiculous prices are and that they are crashing already. This is probably just the beginning....

Anyone else seeing this happening in Ireland ?