THE AVERAGE ASKING PRICE for a house in Wicklow in late 2011 was 12 per cent
below the peak prices being sought in 2007.
Toward the end of 2011 the average price stood at € 233,000, a fall of € 262,000 from the peak four years previously.
Asking prices in Dublin commuter counties fell 8.5 per cent in the final three months of 2011, compared to a fall of 3.1 per cent between June and September.
Commenting on the report, Ronan Lyons, economist with Daft. ie says, ' It is tempting to see larger house price falls as a bad thing and no doubt many, particularly those in negative equity, will see this dramatic fall in those terms.
' However, if the size of the correction in house prices is determined by fundamental factors, then it is better for the prices to race to the finishing line than crawl there.
' Looking ahead to 2012, confidence and finance are central. It is vital to remember that recovery in the property market does not mean an increase in prices, it means an increase in transactions. This is ultimately down to the banks, who will not resume lending until the Government's stress tests stop punishing them for doing so.'
Toward the end of 2011 the average price stood at € 233,000, a fall of € 262,000 from the peak four years previously.
Asking prices in Dublin commuter counties fell 8.5 per cent in the final three months of 2011, compared to a fall of 3.1 per cent between June and September.
Commenting on the report, Ronan Lyons, economist with Daft. ie says, ' It is tempting to see larger house price falls as a bad thing and no doubt many, particularly those in negative equity, will see this dramatic fall in those terms.
' However, if the size of the correction in house prices is determined by fundamental factors, then it is better for the prices to race to the finishing line than crawl there.
' Looking ahead to 2012, confidence and finance are central. It is vital to remember that recovery in the property market does not mean an increase in prices, it means an increase in transactions. This is ultimately down to the banks, who will not resume lending until the Government's stress tests stop punishing them for doing so.'
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