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  • House prices have fallen 68% since the boom, insists Goodbody's
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Mar 13, 2012 - 10:21

House prices have fallen 68% since the boom, insists Goodbody's

The MyHome Newsdesk
By The MyHome Newsdesk
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House prices have fallen 68% since the boom, insists Goodbody's

A new report on residential property prices shows an average drop of 68% since the peak of the boom.

Goodbody's figures are based on prices achieved at the five Allsop Space auctions held in Dublin over the past year.

The average price of residential property sold at those auctions was €145,000.

The report stated that tight credit conditions, oversupply, weak domestic demand and a lack of transparency on sales prices have contributed to the prolonged nature of the housing market crash.

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It said that mortgage lending last year was back to levels last seen in 1971, adding that a key ingredient for any recovery in the Irish property market is credit availability.

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  • Tags
  • Allsop Space
  • boom Goodbody's
  • credit availability
  • Dublin
  • housing market crash
  • oversupply
  • property prices
  • report
  • residential property
  • sale prices
  • tight credit conditions
  • weak domestic demand
The MyHome Newsdesk
By The MyHome Newsdesk
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