Friday, August 10, 2007
Tiger lost its claws
National house prices in Ireland declined by 2.6% in the first six months of 2007 according to the latest edition of the permanent tsb / ESRI House Price Index. The index - published today - measures the movement of house prices over the first six months of the year... The index does not measure volume/activity in the market and it can be assumed that the current climate has resulted in a lower than normal level of activity, which means that actual sentiment is not fully reflected in the price trend at this early stage in the ongoing Irish housing market correction.