Looking thru the posts here about house price drops and where they are now versus 200x, I started to wonder what would house prices be without the boom of the last decade and would they be higher or lower.
Just checked back on the indo.ie for opening prices of houses circa 2001, roughly midway thru the boom, 2 estates built that year 1 in North county Dublin and 1 in West Dublin (first went on sale for @€390,000 second for @€200,000) now I know of a house in each development which sold since Christmas for @€480,000 and for @€300,000.
Thats about a 33% increase in the first and a 50% increase in the second over 8 years.
What would the prices be if we had had normal house price inflation of @4% a year; 1st =@€535k 2nd=@273k (Roughly)
So question is who thinks we had a boom or not!!
Just checked back on the indo.ie for opening prices of houses circa 2001, roughly midway thru the boom, 2 estates built that year 1 in North county Dublin and 1 in West Dublin (first went on sale for @€390,000 second for @€200,000) now I know of a house in each development which sold since Christmas for @€480,000 and for @€300,000.
Thats about a 33% increase in the first and a 50% increase in the second over 8 years.
What would the prices be if we had had normal house price inflation of @4% a year; 1st =@€535k 2nd=@273k (Roughly)
So question is who thinks we had a boom or not!!