Average Irish residential property values down 20% in 2009; 40-50% from peak to trough price dip forecast; IAVI says market close to a floor
Jan 13th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Irish Auctioneers & Valuers Institute (IAVI) Annual Members’ Survey for 2009 reported a decline in average residential property values of around 20% for 2009. In Dublin, property values were down by an average of 20.1% and in the rest of Leinster values declined by an average of 21.5%. In Munster, property values declined 19.2% on average while in Connaught/Donegal values were down by an average of 19.3%. Average residential property values decline is expected to be 40-50% from peak to trough and the IAVI said the market is close to a floor.