Sunday 19 November 2017

Another blow to property market

The latest ESRI report, which recommends that people thinking of buying a home should rent one instead, is a further blow to the Irish property market.

With average house prices having already fallen by an unprecedented 45pc from their peak levels, the ESRI now forecasts that they have even further to fall.

The government's economic think-tank now estimates that average house prices will fall by 55pc from their peak levels of early 2007 before finally stabilising.

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