Glimmer of hope for house prices
Published 21/12/2011 | 13:48
Yesterday's house price figures from the CSO, which show that prices fell by a further 1.5pc in November, will push even more homeowners into negative equity, where the amount which they owe on their mortgage exceeds the value of "their" home.
Following the falls experienced in November, average house and apartment prices have fallen by 54pc in Dublin and by 42pc in the rest of the country since peaking in February 2007.
This makes the Irish house price crash one of the worst ever recorded in any country.