MyHome.ie Property Barometer Q4 2009

 

Property Barometer Q4 2009The latest property Barometer from Ireland’s leading property website MyHome.ie, forecasts a further 10% decline in asking prices in 2010 in its residential property outlook for the year ahead.

 

Key Points

  • The market for three bedroom semi detached homes in the capital will be the first to show signs of asking price stabilisation in the latter part of the year
  • MyHome.ie forecasts that the apartment sector will be one of the last to show signs of stabilisation due to an overhang of supply, weak demand and NAMA
  • MyHome.ie forecasts a -10% average decline in asking prices in 2010
  • The economy is forecast to exit recession in the second half of 2010 but the construction sector recovery will lag the overall recovery by up to twelve months
  • The construction sector is forecast to build just 11,000 new private housing units in 2010, with the possibility of only 6,000 new private housing commencements
  • Summary of Asking Price Changes in 2009
    • National -14.6%
    • Dublin -18.3%
    • Ex Dublin -12.7%
    • New Homes -15%
    • Second Hand -14.6%
  • Rate of decrease in asking prices slowed both nationally (-3.5%) and in Dublin (-4.1%), when compared to Q3 2009 figures on the Barometer
  • In Dublin, asking prices now down by -30.7%, and by -24.77% nationally since the peak
  • Download Full MyHome.ie Property Barometer Q4 2009

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