Sell or let your house privately online
Houseladder.co.uk
 
News Categories
News Archives
 

Ireland to see property market fall 60%

Posted: 28 Nov 2008 09:12:46 GMT

Property News - Ireland to see property market fall 60%

Dropping from €45 billion in 2007 to just €15 billion this year, the Irish property market looks likely to finish 2008 having lost the same proportion of value as the English market.


Compared to the peak year of 2006, however, the falls expected this year will represent a loss of 73 per cent of the previous value, leading to a serious lack of confidence in the market.

Angus Potterton, managing director of Savills, has pointed to the wider issue of the liquidity of the wider money markets as the real cause of banks' reluctance to lend.

"There are signs that something will be done to recapitalise the Irish banking sector but every day that goes by puts more companies out business, pushes up unemployment, reduces tax revenue and brings us deeper into recession," a statement read.

"It is imperative that the government and the banks take immediate action, not just for the 250,000 people in the property and construction sector but for the wider economy."

With buyers unable to afford large mortgages at present, selling a property online could sidestep the costs charged by estate agents, therefore saving buyer and seller money when it is needed most.

© Houseladder Ltd


Advertise Your Property Here FREE!! 
Reach 400,000+ buyers & tenants every month.
List Your Property Free!
Advertise Your Property Free Now
ebook
FREE Property eBook worth £47! 
Packed with money saving tips for
buyers, sellers, tenants and landlords!
Claim FREE Property eBook Now!
house prices
Discover how much a property was ACTUALLY sold for!

PLUS find out how many properties were sold in each month, not just for the England and Wales, but also by postcode or your selected location.

Unlimited FREE access to House Price Data >>
Save Money On ......
FREE Property Advert
Selling or Letting? List Your Property FREE Now!

FREE eBook worth £47
How To Sell Or Let FASTER and Save £1000s!

For Sale Boards & To Let Signs
Save £1000s, Sell or Let your property with a sign!

Mortgages
Fixed Rate, Capped, Tracker... We explain them all. Plus compare 1000s mortgages online.

Home Insurance
Compare Buildings and Contents Insurance. Get a Quote Now!

Home Information Packs
Now SCRAPPED! Find out More!

Conveyancing
Get a Quote and Save £100s.

Tenancy Agreement
Get Your Tenancy Agreement Here.

Tax Guides
How To Avoid Property Tax and Save £1000s

Guides
Buyers
Landlords
Sellers
Tenants
Free ebook
For Sale & To Let Boards

Finance
Credit cards
Loans
Mortgages
Savings

Legal
Building survey
Conveyancing
Credit checks
EPCs
Gas safety certicates
HIPs
Inventory checklist
Tenant deposit scheme
Tenant reference checks
Tenancy agreements

Insurance
Heating insurance
Home insurance
Landlords insurance
Rent guarantee

Moving
House removals
Moving boxes
Self storage
Van rentals

Utilities
Broadband
Electricity
Gas
Home phones
Mobile phones

Books
Tax guides

Search For
Property For Sale
Property For Rent
House Prices
Agents