Daft Property - Irish Property News

Property prices now down 51pc from peak of boom... HOUSE prices across the country are now worth less than half of their value during the property boom, according to the latest price survey. The Sherry FitzGerald price index shows that average prices for second-hand homes nationally have fallen to 51.1pc of their highest value during the peak of the housing boom in 2006. Prices have dropped even further in the capital with the average second-hand home in Dublin now worth almost 56pc less than in 2006. The stark figures released yesterday reveal that the value of houses across Ireland is now back at early 2002 levels. At a comparative level it means prices -- especially in the Dublin market -- are now the same as they were 20 years ago. The grim news comes on the same day that banking stress tests released by the Central Bank yesterday predict the four leading banks will need an injection of €24bn in capital to offset future losses. Among the predictions are that they stan