According to the latest property report from MyHome.ie asking prices continued to decline during the quarter. Nationally asking prices have now fallen 30% from the peak and by up to 40% in Dublin. The average asking price in Dublin now stands at €325K – while we know that actual sale prices around the country have fallen much further than this. The new reality is that properties are now half the price of what they were at the peak of the market in 2006.
With the large drop in property prices around the country, combined with the fall in mortgage interest rates over the last number of years one could deduce that housing has become significantly more affordable. However do current prices represent real value for money?
Have your say:
- Do you think the current property prices represent real value for money?