Price of homes 'to fall 23pc in two years'... HOUSE prices here will fall by 13pc this year and a further 10pc in 2010, international credit ratings agency Standard & Poor's has predicted. After suffering the sharpest price fall in Europe in the four years to 2010, Standard & Poor's (S&P) expects Irish prices to stabilise in 2011. However, some Irish estate agents believe that much of these price fall predictions are already priced into current Irish house prices following a spate of house-price cuts by builders since the start of the year. S&P is using the Permanent TSB (PTSB) house price index as its guide and this has been criticised by many estate agents, including Michael Grehan of Sherry FitzGerald and Keith Lowe of Douglas Newman Good, for being too late with its price trend calculations. These agents reckon that Irish prices have fallen by between 35pc and 40pc from their 2007 peak but the PTSB index, because of the way it is calculated, has so f...
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