Wednesday, January 13, 2010

Irish Auctioneers & Valuers Institute

Finfacts, 16 January 2008:

Robert calls the bottom!

IAVI president Robert Ganly commented: "Overall, I would say to people that the market is beginning to stabilise. The worst is over."

He said that the absence of further rises in interest rates and the reformed stamp duty regime to provide some support, alongside "strong latent demand from young couples who put off purchasing in 2007".

While prices would continue to fall in 2008, "this levelling off should begin to reverse itself in early 2009, and we would hope to see the property market growing again some time during that year".


Irish Times, 13 January 2010:

2 years later, Aine calls the bottom!

These annual results are in line with our expectations for 2009 and consistent with our belief that the average residential property values would decline 40-50 per cent from peak to trough,” commented IAVI president Aine Myler. “The survey results indicate that the market floor is close, if we have not reached it already.

Insolvency Journal, 10 August 2010:

Latter that year, more bottom spotting....

"With house prices down 42% from their peak in 2006, it looks like the property market may finally have bottomed out, according to the Irish Auctioneers and Valuers Institute (IAVI).

[...]

Property prices are continuing to fall but the increase in activity in the sector is crucial to a recovery in the property market, says IAVI's president Kersten Mehl.

"The consensus amongst our members is that the market has bottomed out," says Mehl."

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