House prices could fall by 12% due to Covid-19, according to ESRI study

Image: Shutterstock/Albert Pego Image: Shutterstock/Albert Pego HOUSE PRICES IN Ireland could fall by as much as 12% due to the Covid-19 crisis, according to a new study.

The research suggests that if the economy faces a “sluggish” recovering in the months ahead, house prices could fall by 12% by the end of 2021. The think tank states that before the pandemic “house price inflation in the Irish housing market had slowed considerably”. Related Read 19.05.20 Dr Tony Holohan: 'We have effectively extinguished the virus from the community' It is clear that this decline would have been significantly worse if the Irish Government had not introduced the significant welfare payments to address the substantial increase in unemployment. The recovery of housing demand in the Irish economy will depend on how long these payments remain in place and at what stage the authorities decide to remove them.

Total contradiction to what Tom Parlon Said 👽

Look at price drop websites they falling by that already never mind could fall

Contra to what Parlon said yesterday, but that was on new builds. This will be interesting.

That's a good thing, way over priced boxes in Dublin. Hopefully greedy landlords will also drop rental prices.

Should be reducing anyway. Nothing was learned from the 2008 crash. It's a shame it takes a global virus to reduce the prices. Albeit, it won't last for as long

This whole thing was a scam A major transfer of wealth back to the golden circle

For buyers ok. For sellers not good. I think it's only temporary situation.

Good..

If you're buying to live in it and not as an 'investment' to flip then that shouldn't be upsetting.

It could be more, we won’t know about the full impact lockdown had until 2nd quarter results come out....

'warns new study'. I guess we know who's side your on. And it's not the side of the indigenous Irish working class.

That will just about cover the gouging up or the building of a house by up to 10 percent. So your house should loose 10% and your new house cost an extra 10 % lose lose. But If your buying a second hand house win win.

Oh no!

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Covid safety measures could add 5-10% to house pricesThe Construction Industry Federation has warned that Covid-19 safety measures could add 5-10% to the cost of a house. I didn't see that coming, did you? But want to cut the cost of labour because of covid-19!?🤔 so cut labour cost but raise price! More profit is all this is about! Can't wait to see how much they increase the price of public transport. Just look at Dublin, the Luas (tram) was already overpriced and always crowded.
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