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
  • MyHome.ie NCB Property Barometer Q2 2008
Uncategorized
Jul 10, 2008 - 09:00

MyHome.ie NCB Property Barometer Q2 2008

MyHome.ie
By MyHome.ie
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
MyHome.ie NCB Property Barometer Q2 2008

 

MyHome.ie NCB Property Barometer Q2 2008
Dublin, July 10th 2008: Property prices fall 1.5% in 3 months as 2 out of 5 buyers say they'll buy within 12 months says MyHome.ie survey
  • -1.5% national decrease in Q2 2008 with sharper fall of -1.8% for new homes
  • 3 bed semis in Dublin  among the highest falls at -2.6%
  • Falling prices the main factor affecting buyer decisions but capacity to pay deposit a critical issue for some
  • Report Downloads:
    • Download full Property Barometer Q2 2008
    • Download County by County Analysis
    • Download Barometer Indices

Asking prices for residential property have dropped by one and a half per cent nationally over the last Quarter, according to the MyHome.ie NCB Property Barometer published today. The Barometer shows a significant variation in price drops across the country and for different property types. Asking prices for two bed apartments in south Dublin are down -5.1% while 3 bed semis are down -3.8% in Dublin West with 4 bed detached houses down -4.3% in the same area.
A MyHome.ie survey of buyers, based on a sample of more than 2,200 and published with the Property Barometer, reveals that 38% of buyers intend to purchase within the next 12 months. Falling prices is regarded as the most important factor affecting buyers' decision to transact although the availability of suitable property remains the key factor for those trading up. 1 in 7 buyers surveyed have secured a mortgage while a further 1 in 8 are awaiting mortgage approval. While the majority of buyers who either have or are looking for a mortgage say they have the deposit available to buy a house, a significant 21% or more than a fifth say they do not have the funds to pay the deposit. This reflects the much tighter credit terms that are now available to home buyers.
The MyHome.ie NCB Barometer, based on an analysis of all properties advertised on MyHome.ie over the March to June period, shows that the falls in asking prices have still not matched the falls in actual sale prices which are officially reported at -10% over the last year but may be as high as -15% to -20% in some cases. Some further highlights of the Barometer findings include:

  • The stock of houses for sale continued to rise during the quarter with sales down about 21% on the same period last year
  • Asking prices for 3 bed semis are generally down with falls of -2.6% in Dublin,-3.2% in Kildare and Kilkenny, and -4.1% and-4.4% in Limerick and Westmeath respectively
  • The price trends for 2 bed apartments showed some variation with -5.1% decline in south Dublin against a +3.2% increase in north Dublin. This may be due to the less steep rise in price in the north city in previous years.

NCB economist, Eunan King, who provided the expert commentary for the Report said,
"While there is still a strong underlying demographic force driving the demand for accommodation, the near-term headwinds of higher interest rates, tighter credit and generally slower growth militate against a strengthening of the housing market until sometime next year."
Commenting on the special buyers survey, Angela Keegan, COO of MyHome.ie said: "With 2 out of 5 buyers saying they intend to buy within the next 12 months, there is a strong underlying demand for property in the market. It is significant that 1 in 7 of those surveyed already have mortgage approval but, given that falling prices is quoted as the biggest factor affecting the buying decision, some are still holding back on purchasing in the current uncertain market."
The Report includes a four-page, county-by-county guide providing details of price trends for the most popular property types on sale. Most counties show a drop in prices for most property types over the last quarter but there are some examples of price stability in certain counties.
The MyHome.ie NCB Property Barometer is compiled from asking price data collected from a quarterly snapshot of active, available properties for sale on MyHome.ie with an independent analysis of the data and commentary by NCB.
Report Downloads:

  • Download full Property Barometer Q2 2008
  • Download County by County Analysis
  • Download Barometer Indices

 

Advertisement

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

MyHome.ie
By MyHome.ie
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