Dec 28th Bubble News Update

Dec 28th IrishTimes: How the housing corner stones of our economy could go into a rapid freefall (Subsc. req., full text here and gang of bears lapping it up)...."falls in real house prices of the order of 40-50" !!!!!!

Dec 28th Indo: Caution means house prices rising at slowest rate in almost five years

Dec 21st Examiner: ESRI issues debt warning...."International banks concerned about our credit rating might be forced to raise the cost of borrowing to Irish financial institutions. In effect that would see Irish interest rates going higher than the benchmark rates laid down by the European Central Bank, which would be unprecedented, he said. "

House Sites Advertise Price Drops!

Cheers to the visitors for noticing price drops on MyHome:
Found by Anon: Block 1, Parklands, Northwood, Santry
"ONLY 6 UNITS REMAINING" MASSIVE PRICE REDUCTIONS FOR QUICK SALE"

Found by Colm: The Oaks, Parkview, Sandyford, Dublin 18
Now €440k - "launch selling price €465,000 - this apartment is selling at a reduced price as quick sale needed"

The ball is certainly starting to roll now!
Do a search on Google yourself to find more - search with one of these 2 phrases:
"quick sale" site:www.daft.ie
"quick sale" site:www3.myhome.ie

Dec 18th Bubble News Update

Dec 17th: SbPost: Bank predicts house-price growth of 3% next year ....which will technically be a fall painted as an increase by usual suspects. 3% is too high, minus 10% I say.
Dec 15th: Indo: Mortgages rise 50pc in a year ....and like it or not the rates are going up again early next year.

Post Budget Price Drops

BillG on ThePropertyPin Forum found 26 examples of price drops the day after the budget. Good job BillG. Now we have a total of 177 examples

Address: 10 Westway Park, Blanchardstown, Dublin 1 Area: Blanchardstown
Old Price: 320000
New Price: 315000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=279072

Address: 33 Clogher Road, Crumlin, Dublin 12 Area: Crumlin
Old Price: 381000
New Price: 370000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=287773

Address: Glenalua, Cunningham Road Area: Dalkey
Old Price: 1750000
New Price: 1590000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=286065

Address: 74 Curlew Road, Drimnagh, Dublin 12 Area: Drimnagh
Old Price: 381000
New Price: 370000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=291891

Address: 31 Glasnevin Woods, Glasnevin , Dublin 1 Area: Glasnevin
Old Price: 410000
New Price: 398000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=295322

Address: 172 Ballymun Road, Glasnevin, Dublin Area: Glasnevin
Old Price: 650000
New Price: 600000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=287314

Address: 24 Rosedale, Tyrconnell Street Area: Inchicore
Old Price: 365000
New Price: 355000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=277854

Address: Apt. 18 Cammock, Mount Brown, Dublin 8 Area: Kilmainham
Old Price: 290000
New Price: 275000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=285532

Address: 64A Devenish Road, Kimmage, Dublin 12 Area: Kimmage
Old Price: 450000
New Price: 440000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=288927

Address: 6 Foxborough Manor, Lucan Area: Lucan
Old Price: 410000
New Price: 395000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=293120

Address: 78 Rosewood Grove, Lucan Area: Lucan
Old Price: 340000
New Price: 335000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=277474

Address: 40 Foxborough Road, Lucan, Co. Dublin Area: Lucan
Old Price: 390000
New Price: 380000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=277406

Address: 1 Muckross Green, Perrystown, Dublin 12 Area: Perrystown
Old Price: 635000
New Price: 600000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=294202

Address: 48 Tayleurs Point, Rush Area: Rush
Old Price: 315000
New Price: 308000 Date Reduced: 07/12/2006
Link: http://www.myhome.ie/search/property.asp?id=297075

Address: 51 Temple Court, Santry, Dublin Area: Santry
Old Price: 355000
New Price: 345000 Date Reduced: 07/12/2006
Link: http://www.myhome.ie/search/property.asp?id=293387

Address: Apt. 6, Court Apartments Area: South City Centre
Old Price: 750000
New Price: 680000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=295409

Address: Apt. 15 St. James's Court Area: South City Centre
Old Price: 340000
New Price: 330000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=293546

Address: 15 Allen Park Drive, Stillorgan Area: Stillorgan
Old Price: 890000
New Price: 840000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=286559

Address: 55 Limekiln Green, Walkinstown, Dublin 12 Area: Walkinstown
Old Price: 385000
New Price: 375000 Date Reduced: 08/12/2006
Link: http://www.myhome.ie/search/property.asp?id=282751

Dec 12th Bubble News Update

RTE: Primetime Investigation: BuyerBeware

FinFacts: Ghost bidding widespread among estate agents
IrelandOnline: Govt assisting 'property rip-off' - Sargent
SbPost: Data watchdog investigates mortgage brokers
RTE: Dáil told property legislation on the way

Primetime exposé last night uncovered widespread ghost bidding in the Irish property market, where fake bidders are employed by the estate agent for private and public sales to push the price up by at least 10%. Also uncovered was double billing and mis-management by property management companies and housing estates repeatedly left unfinished by developers. Greedy feckers the lot of them. Hopefully some action will be taken, especially against the bidding scams - I want people in jail for this!

I don't have time, but if anyone out there does and can find a way to do it safely, can you set up a 'Name & Shame' website to expose these monsters.

More House Price Drops

Example 151: (found by Keith)
1 Muckross Green, Perrystown, Dublin 12
21-11-06: €635k
08-12-06: €600k

Example 150: (found by Keith)
62 Fernhill Road Perrystown Dublin 12
Summer '06 €565k++
08-12-06: €525k

Dec 7th Bubble News Update

Finfacts.ie: ECB rate up to 3.5% - Trichet says interest rates are still low and signals at least one further hike in 2007, in response to high private sector credit growth
...told ye.

Dec 6th Bubble News Update

Budget day!
RTE.ie: Interest relief, but no stamp duty move
...yup, like I said on Nov 12th below. Now if the sheep can stay in their pens we can get prices back to normal.
Watch out for interest rate hike tomorrow and I'm guessing another in February.

Dec 3rd Bubble News Update

SbPost.ie: Fewer than one in five Dublin houses sold at auction