Thursday, Jun 25, 2009
House prices to fall 40% - S&P
IRISH TIMES: House prices to fall 40% - S&P
Irish house prices will have declined by around 40 per cent from their peak in February by the end of next year, according to ratings agency Standard and Poor’s.
Its report on the European housing market said the Irish economy was suffering from a "very deep recession".
Posted by shoots @ 11:10 AM (647 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. nomad said...
I see the UK got a mention in the final paragraph.
"The duration and severity of the housing market decline would be different in each European country, the report said, noting that countries with the highest levels of personal debt were likely to see the longest downturn."
2. need-a-crash said...
"According to S&P house prices fell 21 per cent between February 2007 and April this year and will decline by 13 per cent overall this year. This will be followed by a further 10 per cent drop in 2010 bringing the overall fall to approximately 40 per cent, according to the report."
So approx. 20% 2008, 10% 2009 and 10% 2010 sounds about right for the UK as well.
3. nomad said...
Today's Moneyweek newsletter is arguing a further 40% drop from here! The price to earnings ratio is still higher than at the last peak in 1989.
4. Waitingtobuy said...
"noting that countries with the highest levels of personal debt were likely to see the longest downturn"
I wonder which country that is?
5. japanese uncle said...
At least 70% eventual drop from the peak can be reasonably predicted in Ireland having seen even more lunatic hike in the past 10 years, with all her much smaller economy with much less reserve than the UK. Expect 80% drop from the peak as safer option.