MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • AIB reports slowdown in property price decline
Uncategorized
Sep 5, 2012 - 14:47

AIB reports slowdown in property price decline

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
AIB reports slowdown in property price decline

There has been a noticeable slowdown in the pace of residential property price decline in recent months, the latest Housing Market Bulletin from AIB's economists said today.

Over the five month period from March to July, the CSO's national residential property price index fell by just 1.8%. This compares to a cumulative 10.6% decline over the previous five month period.

As a result, the year-on-year rate of decline in the index has slowed to 13.6% in July from 17.8% in February.

This CSO index is based on mortgage drawdowns, which may occur several months after the time of sale. Thus, this slowdown in price decline probably began towards the end of last year, it said.

It notes that recent months have seen considerable volatility in monthly price movements - especially when the fact that the index is calculated as a three month moving average is taken into account.

Advertisement

"While this may be indicative of a market that is approaching a turning point, we feel that it is still too soon to call the bottom of the downturn in the Irish housing market, especially given the scope for further receiver/distressed sales and the small data set from which the index is currently being calculated," it said.

As the index is based on mortgage drawdowns it excludes cash sales, which are currently estimated by Sherry Fitzgerald to be some 40% of the market.

Prices in Dublin have shown the greatest sign that they could be stabilising. While they fell back in June and July, according to the CSO index, this followed three consecutive monthly rises leaving them unchanged over the March-July period. In contrast they had fallen by a cumulative 12.8% over the previous five months.

Meanwhile, apartments, both in Dublin and elsewhere, continue to underperform houses. The index for Dublin house prices actually rose by 0.3% over the March-July period. However, that for apartments fell by 4.1%. Apartments have also performed worse at a national level, with cumulative performances over the last five months for houses and apartments of -1.7% and -5.4%, respectively.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • AIB
  • apartments
  • CSO
  • cumulative
  • decline
  • distressed sales
  • economists
  • Housing Market Bulletin
  • Irish housing market
  • mortgage
  • national residential property price index
  • receiver
  • residential property
  • volatility
The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement