Average house price values in Dublin have tumbled by €5,000 on average since June. At the same time, prices in Cork and Galway have flat-lined as aspiring buyers in the main cities now find themselves caught in a ‘Catch 22′ caused by new borrowing requirements and fast-rising rents.
The unexpected slide in prices in the capital and the stasis in the other cities is being blamed on the higher deposits and loan-to-value ratios which have been required since the start of the year for borrowers.
Read the full details in the Irish Independent.
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