Ireland Financial News – Mortgages & Banking

 Houses prices in Ireland fell by 9.1% last year. The House Price Index, published by the ESRI and Permanent TSB, indicates that the biggest prices drops were in commuter counties surrounding Dublin. House prices were down 16.8% in these regions in 2008.   Permanent TSB says houses prices now are where they were in the middle of 2005 and it is thought houses prices in 2009 will fall by a further 10%. It says the market will not recover until the economic situation in Ireland signif... read more »

 The Central Bank says it expects the economy to contract by 4.7% this year, as Ireland continues to be impacted by global recession and falling demand. In its latest economic forecast, the Central Bank says the contraction will lead to significant job losses with 100,000 fewer people working by the end of the year. The bank says unpalatable short-term measures are needed if the economy is to stabilise in 2010. In one of the most negative outlooks published so far, the bank says the co... read more »