Daft Report: Property Price Reduction | Dublin Cork Galway Limerick

A recent report published on the Daft.ie website claims that rental prices, instead of continuing to fall, have in fact stabilised and that rental returns in April 2011 were slightly higher (0.6%) than the same time in 2010. Rents in Dublin have actually risen in three of the last four quarters.

The Daft.ie report goes on to say that since rental yields (which are calculated by dividing the annual rent by the value of the property) are on average 4.0%, that this implies that residential property prices will continue to reduce for some time to come.

The report does not however, give any indication as to how long it will take before the property price reduction finally reaches its lowest point.

As long as consumer confidence remains low, property prices will keep dropping. Consumers will tend to save rather than spend, especially that segment of the Irish population that has suffered least from the recession, middle aged property owners lucky enough to sell just before the end of the boom, but fearful enough of the cutbacks in public spending that mean they will increasingly need to rely on their own resources as they reach old age.

Some of the reduced priced properties featured on IrishHouses.ie include:

3 Bedroom Semi Detached House Redemption Road Cork

4 Bedroom Semi Detached House Clonsilla Dublin

4 Bedroom Semi Detached House Headford Road Galway

4 Bedroom Detached Ardagh Limerick

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