Drop Speeding Up In South (And Sites In The North)

[johnsp]

surprised to see no comment on the piece yesterday (see hpc front page) showing Dublin prices dropped 2.4% in June, yes ONE month. they have been dropping for 43 straight months! anyone looking to buy would I presume be looking for the rate of decline to slow first. in my view this points to more significant drops in the near future.

on a slightly different subject, I have been looking at sites in the west of NI. I am curently based in England and have started getting calls from agents saying to ignore the asking price and just make an offer. does this match other's experience?

on a third point, anyone experience of buying semi completed hosues?

[Shotoflight]

surprised to see no comment on the piece yesterday (see hpc front page) showing Dublin prices dropped 2.4% in June, yes ONE month. they have been dropping for 43 straight months! anyone looking to buy would I presume be looking for the rate of decline to slow first. in my view this points to more significant drops in the near future.

on a slightly different subject, I have been looking at sites in the west of NI. I am curently based in England and have started getting calls from agents saying to ignore the asking price and just make an offer. does this match other's experience?

on a third point, anyone experience of buying semi completed hosues?

http://www.irishtimes.com/newspaper/property/2011/0728/1224301490159.html

However, Ed Carey, residential chief of the Society of Chartered Surveyors Ireland (SCSI) says the CSO’s index is fundamentally flawed because it is based on loans drawn down and does not take into account cash deals, which he estimates make up over 30 per cent of sales.

“What buyers need is a transparent house price register. They want to know is how much a house up the street made last week, It doesn’t give up-to-date, localised information. The CSO index is not specific enough.

While Simon Ensor of Sherry FitzGerald maintains the plummet since the peak is underestimated by the CSO – his agency maintains the figure is closer to 60 per cent in Dublin and over 55 per cent nationally – he says the June figures issued by the CSO “look stronger than we would have anticipated.

Lorcan Sirr says while the CSO’s figures are not 100 per cent accurate, they are the best we have to date. “It is most likely that they provide a good indication of the overall trends in the residential marketplace. In this respect, they are useful, welcome and overdue. It’s a pity we never had such official data over the last 10 years.”