Saturday, May 05, 2007
TheUK House Price Crash - Just a short ferry ride away.
Irish Times Newspaper: “Property asking prices down 10%.”
It's a headline to strike fear into the heart of any overstretched homeowner. And it's precisely the headline that readers of the Irish Times - Ireland's biggest broadsheet - woke up to last Monday. Asking prices across Dublin have slumped in the past six months, particularly in the wealthier suburbs of the city, amid a glut of property coming onto the market.
Kelly reckons prices could fall by 50%. "In a typical property crash, prices fall by 70% of what they've gained. That would imply a rental yield of 8%, which is still very low" by historical standards. "A 10% rental yield would imply bigger falls."
Posted by down wave @ 09:13 AM (138 views) Add Comment
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