Saturday, Jun 30, 2007
Irish house prices continue slide (3 months in a row )
RTE News: Fall in house prices continued in May
New figures show that the average price of a house continued to fall in May, with a particularly sharp drop in prices paid by first-time buyers.
The house price index compiled by Permanent TSB and the ESRI shows a drop of 0.8% in May. The average price paid for a house has now fallen by just over 2% in the first five months of this year to €304,166.
Posted by plummet @ 09:34 PM (32 views) Add Comment
3 Comments
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1. sovietuk said...
And the interest rate steam roller has only just started warming up its engine. The inherent weakness in many western economies means that the negative equity, repossessions and bankruptices will be far worse this time around. For anyone on the verge of taking on a large mortgage think very very carefully indeed.
2. Bearsrus said...
i think reality is starting to kick in in ireland. banks and estate agents cannot fog people off anymore with 10-15 times wages being normal in a falling market with rising int rates further it don,t wash thats its clever to mortage yourself to the hilt over longer terms that make them more affordable . the age old principles of 3-4 times salary and spread over 25 yrs must come back when it all bursts .that,ll stop hpi going silly again. history will repeat itself , the booms finished now for the bust
3. sirgoogle said...
Remember the ECB rates are only 4%