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26/06/2008
Average House Value Down €30,000 In Single Year
The property market is spiralling perilously, as recent figures show a huge drop in the price of Irish homes, and the fall shows no sign of relenting.
According to the Permanent TSB/ERSI house price index, average national house prices fell by 1.2% in May alone, following similar and steadily increasing falls in the proceeding months, leading to a total of 9.2% over the last year.
The average price paid for a house nationally in May 2008 was €275,176 compared to €304,166 last May, a drop of €28,990.
Niall O'Grady, General Manager Business Strategy, at the permanent TSB said: "The combination of higher customer mortgage rates and weaker confidence in the economy is increasing uncertainty about the immediate future of the property market. This has resulted in lower demand thereby reducing transaction numbers and property prices."
Economists had been predicting a correction in the housing market for sometime as house prices rose to inflated levels before the fall out of the sub-prime market in the American economy.
(DW/JM)
According to the Permanent TSB/ERSI house price index, average national house prices fell by 1.2% in May alone, following similar and steadily increasing falls in the proceeding months, leading to a total of 9.2% over the last year.
The average price paid for a house nationally in May 2008 was €275,176 compared to €304,166 last May, a drop of €28,990.
Niall O'Grady, General Manager Business Strategy, at the permanent TSB said: "The combination of higher customer mortgage rates and weaker confidence in the economy is increasing uncertainty about the immediate future of the property market. This has resulted in lower demand thereby reducing transaction numbers and property prices."
Economists had been predicting a correction in the housing market for sometime as house prices rose to inflated levels before the fall out of the sub-prime market in the American economy.
(DW/JM)
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30 April 2012
New Research On The Current State On The Irish Housing Market Published
The Central Bank of Ireland today published new economic research, entitled 'Why are Irish house prices still falling?' The Letter begins by assessing the current state of play in the Irish residential property market.
New Research On The Current State On The Irish Housing Market Published
The Central Bank of Ireland today published new economic research, entitled 'Why are Irish house prices still falling?' The Letter begins by assessing the current state of play in the Irish residential property market.
01 October 2009
House Prices Fall 4% In Last Quarter
A leading property website has revealed that Ireland's house prices have fallen again during the last quarter, this time by 4%. According a report published today from popular property website MyHome.ie, the average asking price nationally for property fell by 4.27%, while in Dublin asking prices which were down 5.
House Prices Fall 4% In Last Quarter
A leading property website has revealed that Ireland's house prices have fallen again during the last quarter, this time by 4%. According a report published today from popular property website MyHome.ie, the average asking price nationally for property fell by 4.27%, while in Dublin asking prices which were down 5.
04 July 2011
House Price Fall 'Accelerating'
An influential property website has said on Monday, that the ongoing fall in property prices is "accelerating". Writing on the site today, lecturer in Finance with Trinity College, Dr Constantin Gurdgiev, said there was a bleak forecast for Irish property markets - both commercial and residential.
House Price Fall 'Accelerating'
An influential property website has said on Monday, that the ongoing fall in property prices is "accelerating". Writing on the site today, lecturer in Finance with Trinity College, Dr Constantin Gurdgiev, said there was a bleak forecast for Irish property markets - both commercial and residential.
29 February 2012
LTV Limits On Mortgages May Prevent A Repeat Of Ireland's Housing Bubble
The introduction of loan-to-value (LTV) limits on mortgages might help to prevent a repeat of Ireland's housing bubble, according to new research by the Economic and Social Research Institute (ESRI).
LTV Limits On Mortgages May Prevent A Repeat Of Ireland's Housing Bubble
The introduction of loan-to-value (LTV) limits on mortgages might help to prevent a repeat of Ireland's housing bubble, according to new research by the Economic and Social Research Institute (ESRI).
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