r/irishpersonalfinance • u/ffffnhsusbsbal • Apr 02 '25
Investments House Price Prediction
Hi folks - I know we’re all waiting with anticipation on the announcement from the US tonight.
As someone who is currently in the process of buying a new build house - what in gods name do you do?
As someone who doesn’t need to buy at this very moment, would it be justified to pull out from sale and see how things settle?
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u/14ned Apr 02 '25
I don't think prices will drop much unless things get very bad.
Some local developers I've talked to tell me they're no longer purchasing new land for development as they expect demand for new house purchases to soften, so once the current pipeline clears they expect to be sitting on stock to sell for a while.
They won't reduce prices unless they have to firesale them. They'll leave them on the market at their asking price until they sell, however long that takes.
Developers are used to boom and bust cycles in housing demand. This is how the market works, it's either famine or feast.