Interest rates in the Eurozone economies have been kept on hold at at 1.0% for another month following the European Central Bank’s regular meeting.
Central Bank rates across the major economies are at extremely low levels, in many cases unprecedentedly so. In the US the Federal Reserve is maintaining the Fed funds rate in a corridor between zero and 0.25% while in the UK the Bank of England has cut the Bank rate to only 0.5%. Euro zone rates are higher, at 1%, but again the repo rate is also at an historic low according to Bank of Ireland’s July Bulletin.
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Average asking prices for Irish houses fell by 14.66% in the 12 months to June 2009, according to new research by myHome.ie.
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As people increasingly look for new ways to boost their income, many British homeowners could be sitting on a mini-goldmine this summer, says Email4property.co.uk, with properties throughout the country now offering excellent potential for short-term holiday lets.
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