1.1*1.26=1.386
It's a drop so its based on the orig price not the price it is now.
(1.5-1.1)/1.5 = 26.67%
- Status
It's a drop so its based on the orig price not the price it is now.
(1.5-1.1)/1.5 = 26.67%
Have selectively quoted here but I know you were looking for advice on an estate in Celbridge which I replied to, just to advise that we sold in Celbridge in May and there the market has really slowed in the few months since then. Still keeping an eye on it more so out of curiosity but houses in our old estate that had more land and were bigger (eg sunroom or conservatory etc) have only made 5-10k more than what we sold for only 6 months later although no price drops that I've noticed as of yet but get the feeling as there's a huge supply suddently that they arent far off.
D
Debtwish
Guest
One of our favourite blogs gets also gets mention in today's IT.
[broken link removed]
EDIT: although I've just noticed that they got the link wrong.
It should be: http://irishhousepricesfalling.blogspot.com/
[broken link removed]
EDIT: although I've just noticed that they got the link wrong.
It should be: http://irishhousepricesfalling.blogspot.com/
€1.5m to €1.1m, thats a drop of almost 40%
27%
J
JayDub
Guest
It doesn't really matter, it will be 40% in a couple of weeks LOL
perhaps it should be called a "40% unrise", if it is 40% rise on the way up there should be a way of reflecting the same percentage for an equal change in value on the way down!
If you say "My property went up 40% then dropped 27%" I think most of them will think you are still 13% up
.
P
plaudit
Guest
We'll all be experts on % falls soon enough.
In 2001 our white knight was Eastern European immigration, I can't see a white knight this time.
In 2001 our white knight was Eastern European immigration, I can't see a white knight this time.
If you say "My property went up 40% then dropped 27%" I think most of them will think you are still 13% up
I think (or would hope that) most people grasp that if your house increased in value by 100% and then decreased by 50%, or doubled and then halved in value, you are pretty much back to where you started.
I think you might be giving the majority of people's maths skills too much credit! They see two different percentages, they think they represent two different numerical values.
Marketeers have been making use of this rule of thumb for years!
P
phoenix_n
Guest
€1.5m to €1.1m, thats a drop of almost 40%
Not quite 40% but getting close to my prediction a month or so ago.
P
poormouth
Guest
Definition of Blowoff taken from
"A term in technical analysis that refers to a sharp price increase that comes after a long period of price appreciation, and is followed by a fall in the price. A blowoff is seen as a rally's last breath and is a highly bearish sign. Notes:
This large and dramatic price movement is generally seen at the peak of a market or stock. The idea behind the bearishness of a blowoff is that it signals the activity of the most irrational and overly exuberant market participants, who, wanting to take part in the rally, momentarily push up the already-overvalued stock."
Is it possible that we saw the blowoff in the Irish housing market early in 2006 or is it too early to say yet?
"A term in technical analysis that refers to a sharp price increase that comes after a long period of price appreciation, and is followed by a fall in the price. A blowoff is seen as a rally's last breath and is a highly bearish sign. Notes:
This large and dramatic price movement is generally seen at the peak of a market or stock. The idea behind the bearishness of a blowoff is that it signals the activity of the most irrational and overly exuberant market participants, who, wanting to take part in the rally, momentarily push up the already-overvalued stock."
Is it possible that we saw the blowoff in the Irish housing market early in 2006 or is it too early to say yet?
Too early to say for certain.
My fear is that the government could yet do something stupid that extends the bubble, thereby enhancing the pain of undoing it.
M
MadPad
Guest
good post...I think you might be giving the majority of people's maths skills too much credit! They see two different percentages, they think they represent two different numerical values.
Marketeers have been making use of this rule of thumb for years!
very important but basic point when looking at % swings....
if a house starts at say 100000 and rises by X% for a few years only to drop in value by X% again, you are back worse than you started, the amount of difference depends on the X%....
10% rises to 110000 falls to 99,000 a net fall of 1%
20% rises to 120000 falls to 96,000 a net fall of 4%
30% rises to 130000 falls to 91,000 a net fall of 9%
40% rises to 140000 falls to 84,000 a net fall of 16%
50% rises to 150000 falls to 75,000 a net fall of 25%
...
im not saying that because prices have increased by whatever % in the last couple of years, they will fall by that amount, just that the % fall is always more money than the % increase and its natural when the figures are used in the same sentence to assume they mean the same amount....
They more than likely will - what if the reduce income tax but leave stamp duty in place (they have said that they will leave stamp duty in place anyway). This would increase people's affordibility again - negating interest rate rise, boost the marget again and they will get the revenue lost on income tax back in stamp duty. Very simplified I know, but I wouldn't be surprised if they do something like that, it is going to be a give away budget after all!
P
plaudit
Guest
I'd say the government want to get over the finishing line that is the election next year, they may focus on cutting taxes and other incentives in the budget without realising the severity of the reverse in the housing market.
S
StoppedClock
Guest
I think this might be a real possibility but do people think that once the "prices only go up" spell is broken by all the bearish reports (and evidnce on the ground) that they can put the genie back in the bottle?
Abbeykiller
Registered User
- Messages
- 45
plaudit We'll all be experts on % falls soon enough.
In 2001 our white knight was Eastern European immigration, I can't see a white knight this time.
Government still has the stamp duty ace to play ...will only need to be used to prop up a plummeting housing market BEFORE the election. If the market stays relatively stable until after the election then it can swing in the wind ....
howstrange
Registered User
- Messages
- 12
A couple of more price drops. Scroll down to the 3 bed category.
18 Bow Bridge, Kilmainham €525 to €475. €50K Drop!
206 The Tramyard, Inchicore €400 to €385
Old Prices:
New Prices:
[broken link removed]
18 Bow Bridge, Kilmainham €525 to €475. €50K Drop!
206 The Tramyard, Inchicore €400 to €385
Old Prices:
New Prices:
[broken link removed]
howstrange
Registered User
- Messages
- 12
A giveaway budget would nearly dig their own grave!! They may get back in government because of it but they will be in there to clean up their own mess!!
- Status