Daft Property - Irish Property News

We've never had it so bad, ESRI warns... Recession worst since the 1930s, think-tank reveals IRELAND is suffering the worst recession of any advanced country since the 1930s, the Economic and Social Research Institute (ESRI) warns in a grim analysis of the economy. Unemployment could rise above 500,000 as national income (GNP) is forecast to fall by 14pc over the three years from 2008 to 2010. The fall in national income beats the 11pc decline in the Finnish crisis of 1990 to 1993, when the collapse of the Soviet Union suddenly deprived Finland of its main market. The ESRI believes this year will be the worst of the crisis, with income per person plunging by more than 9pc in real terms. But there will be further decline next year, with a 1.2pc fall in national income. The stark outline comes as new figures will today show that the rate of increase in unemployment has slowed, but that 384,000 people are signing on. The CSO statistics reveal that an additional 11,000 signed on the li...

There is growing concern over the new evidence emerging, from the Mahon Tribunal, about large sums of sterling that were lodged into an account that Taoiseach Bertie Ahern had said was for his salary cheques. According to ireland.com today the Labour leader..." Eamon Gilmore said in a statement today that the tribunal hearings "raise yet more issues of profound seriousness for the Taoiseach". "We now know that far from being on his financial uppers in the early 1990s, Mr Ahern's myriad of accounts in various financial institutions were awash with money. It now also seems beyond dispute that, despite repeated denials by Mr Ahern, a number of lodgements to his accounts were in sterling. "It is now time for Brian Cowen and other senior figures to put loyalty to the country ahead of loyalty to their damaged party leader; it is time to bring this sorry saga to a conclusion, so that the Government and the Dáil can now concentrate on dealing with the huge social a...

Just browsing through the Irish Newspapers this morning while enjoying my coffee... Plenty Property News for Ireland...Typical headlines today are: "What's your house worth now?" "Prices drop as buyers wait it out" "Southside sales don’t escape downturn" "Price of Limerick homes drop" "Reduced price to spark interest in D6 home" (A bargain now at only €5.5 million - was €6 million!) "Property price rises wiped out by 10pc fall in market" "House prices down €18,000 on average" "Price cuts may trigger domino effect" "Finding affordable townhouse is mission impossible" "Homebuyers opting out of sales now face losing deposits"