House prices in the Republic of Ireland have lost 24% of their value since the peak of the Irish property market in early 2007, according to the latest Permanent tsb/ESRI House Price Index.
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Irish mortgage lenders look set to raise their variable interest rates by 0.5% despite no increase of the ECB’s base interest rate and being financially backed by the Irish taxpayer.
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The latest data from Permanent tsb / ESRI House Price Index has reported that the average house price in Ireland fell by 1.9 per cent in April and by 10.9 per cent over the past year.
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The average price paid for a house in Ireland during February was €255,999 down €5,574 compared with €261,573 in December and a peak of €311,078 reported in February 2007.
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