House Prices in Ireland

The new IMF report on Ireland says that “the correction in house prices, one of the largest in recent history, has continued. The decline in nominal residential property prices slowed to 14.4 percent y/y in June 2012. The index has halved since its peak in 2007, eclipsing recent U.K. and U.S. house price declines and comparable to the Japanese and Nordic experiences of the 1990s. As yet, clear signs of stabilization are limited to Dublin house prices (excluding apartments), which, after dropping by 55 percent, have been flat in H1 2012. Rural areas, in contrast, still show signs of oversupply.”

Posted by at 4:51 PM

Labels: Housing

Home

Subscribe to: Posts