"There has been a lot of speculation in a lot of quarters that the Irish property market is having something of a wobble at the moment."
"This is sort of true, but not in the ways you might expect. And those hoping for cut-price family homes any time soon are going to be disappointed."
"Asking prices have played a big role in that speculation. Big cuts to the asking prices for top end properties have been signalled recently in social and mainstream media as something of an indicator that the property market might be about to turn south."
Speculation about a wobble in the Irish property market stems largely from visible asking-price reductions at the top end. The weakness is concentrated among luxury and high-end listings rather than across the broader market. High-profile cuts in asking prices have been amplified by social and mainstream media, which has helped create the impression of a general market turn. Typical family homes and mass-market segments are unlikely to see the same immediate cut-price corrections, so widespread price falls for ordinary buyers are not indicated in the current signals.
Read at Independent
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