Real estate prices are falling in Ireland

Ireland: According to data released by the Economic and Social Research Institute, real estate prices have fallen 40-45% from 2007 peak in Ireland. Recovery has been halted by the high unemployment rate and the reduction in wages. The real estate market may experience another 5-10%-fall before starting to recover. The highest drop has regarded the segment of country houses in particular, where prices have fallen by 50%. The supply of properties for sale has also fallen, as owners have decided to hold onto it and wait for the market to recover.

Market recovery may be hampered by the glut of new homes that are being built in Ireland, too. The National Institute for Regional and Spatial Analysis has released a report that explains how reckless planning decisions have made the glut of newly-built dwellings increase..read more 

Spain shows some stabilisation in real estate market.  

 

Decreasing property prices in Spain are stabilising but a small improvement in coastal areas has been reversed.

The Spanish Property Market General Index reached 1908 points in June, just 0.4% down on the May figures. It means the average year on year price fall is 4%.

 Progress in the monthly index in the months leading up to the summer in April and May and returned to a negative trend to reach a low for the year of around 2020 points.

This has led to the year on year decline for the area reaching 5.2%, up from 4.1% in May. Prices in Metropolitan.. read more..

 MARKET OVERVIEW IN UK

A U.K. housing-market estimate underlined the first decline in prices for a year in July as demand for homes fell, a sign the economic recovery may be losing steam.

The number of real-estate agents and surveyors saying prices fell exceeded those reporting gains by 8 percentage points, compared with a positive reading of 8 in June. A third more real-estate agents reported an increase rather than a drop in properties for sale.

The housing market is faltering just as services and manufacturing also show signs of weakening after the economy’s fastest quarter of expansion for four years. read more..