Ireland's Eye: What's going on in the old sod this week
A look at news from around Ireland
Just two properties in Limerick city with price-tags in excess of €1 million are now listed as being for sale -- a substantial drop in the previous six months -- and auctioneer Tom Crosse said the drop in luxury homes available for sale is down to fear on the part of the seller.
Last year nearly 20 residences with asking prices in excess of €1 million were for sale locally, but in recent months this figure has more than halved.
Crosse’s views are reflected in the listings of the popular property website Daft.ie, which shows 3,070 properties available for sale in Limerick.
However, of those, 72% (or some 2,200 homes) are within the €50,000 to €300,000 price bracket, and just over 200 are within the higher bracket of €300,000 to €500,000. In the mega-bucks league, only 69 properties are retailing at €500,000 and beyond.
“People aren’t putting these residences on the market at the moment because they’re waiting for things to settle down over the next 18 months. Many properties are being withdrawn from the market for that reason, and these properties have already been written down by as much as 50%,” said Crosse.
The holy grail of property in the city, the North Circular Road, is also taking a hit, with some more modest properties having €200,000 and more being shaved off their prices in a bid to lure buyers.
THE weather this week will be slightly warmer with less rain but it will be a long way from a scorcher.
"It's not set to be a good week, but it also won't be as bad as previous weeks of late," Met Eireann forecaster John Eagleton said.
"It will be warmer and there will be less rain, but it won't be anything to write home about."
The disappointing weather is set to continue on to the weekend, with "no reason to be optimistic."
"The weekend is going to be much more showery and cooler, in particular on Friday and Saturday.
"It will be far less humid than the weather we will experience during the week."
Although it is too early for Met Eireann to say, Eagleton fears that hopes for a sunny July, following a poor June, look set to be deflated.
"We can't really say yet, but the weather just hasn't been settling so it doesn't look good. It has become less wet though."
Hay fever sufferers should have their medication on hand this week as a result of the humid forecast.
"Anyone with hay fever should stay out of the meadows this week. It'll be a challenging few days and looks to be very humid", Eagleton said.
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