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Irish House Prices Crash - Boom To Bust

It's Boom To Bust for Ireland - in fact there are so many reports out that it's hard to keep up with them all! Here's a section of an Irish Times report tôday: "HOUSE PRICES plummeted in April as developers began to offload a glut of unsold houses at knock-down prices. But potential buyers grew more nervous about committing to the plunging property market, new figures show. The drop in the price of new homes was almost twice the national rate, as builders were forced to discount prices in an effort to sell a backlog of houses and apartments rather than wait for a bounce in the market. But figures from the Central Bank show that consumers have so far proved reluctant to take them up on the offer in great numbers, with the growth in mortgage lending last month falling to its slowest rate since 1992. The monthly drop in house prices accelerated from 0.7 per cent in March to 1.1 per cent in April, making it increasingly unlikely that the housing market will turn around thi...

Irish Sunday Morning Newspapers - Ireland Property News

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"