[…] House prices falling slower but still falling! One in three properties posted in January has sold or gone sale agreed by now, so it seems people has their price. For those who like playing with data, the Daft Economist on boards.ie pointed to this: Many Eyes: Fall in asking prices from peak, Ireland by county Map of price falls from the peak by county. Discussion of Daft report and Brian Lucey commentary at: Slowing house price falls still raise questions for NAMA and Falls in asking prices start to ease but NAMA questions remain | Ronan Lyons […]
A 4.1% decrease in residential property asking prices since 30 November 2009? And this may mean we overpay by €1.5bn for NAMA assets?
Rents on Grafton Street have fallen 13/14% since last 30 November (44% annualised) according to Lisney’s in the Independent today. What will that do to current valuations? That said, NAMA had to pick a valuation date for banks to value to and since the banks were required to submit their valuations by Christmas then Nov 30 was probably as good a time as any.
You would wonder though who advised Minister Lenihan who went on to say that last September 2009 was the bottom of the market. You would also want to ask if NAMA can change the valuation date in light of the fact that we were plainly not at the bottom in November 2009. Some things are done and dusted but NAMA still has €75bn of the €81bn loans to value and buy.
Is anyone taking bets on what the ESRI residential quarterly index will say in 2 weeks time? My tuppence worth is a 7-12% drop in actual prices in Q1. And despite the feel that DAFT’s asking prices might give, ultimately it is what properties are actually trading at that is significant.
Lenihan says house prices now at bottom: Sindo - Page 15 ,
[…] House prices falling slower but still falling! One in three properties posted in January has sold or gone sale agreed by now, so it seems people has their price. For those who like playing with data, the Daft Economist on boards.ie pointed to this: Many Eyes: Fall in asking prices from peak, Ireland by county Map of price falls from the peak by county. Discussion of Daft report and Brian Lucey commentary at: Slowing house price falls still raise questions for NAMA and Falls in asking prices start to ease but NAMA questions remain | Ronan Lyons […]
Jagdip Singh ,
A 4.1% decrease in residential property asking prices since 30 November 2009? And this may mean we overpay by €1.5bn for NAMA assets?
Rents on Grafton Street have fallen 13/14% since last 30 November (44% annualised) according to Lisney’s in the Independent today. What will that do to current valuations? That said, NAMA had to pick a valuation date for banks to value to and since the banks were required to submit their valuations by Christmas then Nov 30 was probably as good a time as any.
You would wonder though who advised Minister Lenihan who went on to say that last September 2009 was the bottom of the market. You would also want to ask if NAMA can change the valuation date in light of the fact that we were plainly not at the bottom in November 2009. Some things are done and dusted but NAMA still has €75bn of the €81bn loans to value and buy.
Is anyone taking bets on what the ESRI residential quarterly index will say in 2 weeks time? My tuppence worth is a 7-12% drop in actual prices in Q1. And despite the feel that DAFT’s asking prices might give, ultimately it is what properties are actually trading at that is significant.