Thursday 22 February 2018

Maeve Sheehan: Bottom reached but banks must start to lend

While demand for family homes is up, reviews of last year's property market make for grim reading, writes Maeve Sheehan

A MODERN two-bedroom apartment with a balcony and a car parking space on the outskirts of Longford town might not be everyone's cup of tea. But with a €29,000 asking price, it's probably the cheapest two-bed in the midlands right now.

According to a review of 2011 property prices published last week, Longford prices are down 57 per cent from peak levels. But this particular bijoux apartment is down a whopping 83 per cent from its boom time value.

It would have fetched €175,000 during the boom, according to agent Fintan McGill. He has been trying to shift three-bed homes for at least 70 per cent less than their value during the boom.

Please sign in or register with for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss