By Chloe Wu (x )

Source: The Daft.ie Analysis of the Residential Property Price Register 2012

 The report is done by comparing the asking price and closing price on 6500 properties, it shows that residential homes are selling 10% lower than the asking price.  The Central Statistics Office reported that there is a 0.5% increase in August(the biggest since 2007).  Last month, Sherry FitzGerald reported that second-hand properties were up 1.2% in the three months to September.

 Causes  Problems  Benefit  New Publication: -Residential Property Price Register.

Causes:  High unemployment - if people are unemployed they do not buy houses and seller will have to lower prices in order to attract buyers.  Burst bubble - when house prices have gone too far too fast which the prices are overvalued, they can go down.

Problems: House Price Falls Negative Equity Inflation Interest Rate High Wage Rate Low Cut Down Jobs Unemployment

Benefits:  More houses were sold - according to The Sunday Business Post, there are nearly €2 billion worth of property sold nationwide in the first six months of 2012  More people will be able to buy houses - as the prices has gone down people are able to buy houses.

Residential Property Price Register:  Information on residential properties purchased in Ireland since the 1st January  It contains details of all residential sales. i.e. The price, date of sale and address of each residential property sold in Ireland.  No details of the type of property, the number of bedrooms or bathrooms.