House prices in the North have dropped by nearly 30% over the last year, according to a new quarterly survey.It confirmed 2008 was the worst year for the housing market since the start of the 1980s.
The figures were contained in the latest University of Ulster Quarterly house price index, produced in partnership with the Bank of Ireland and the Housing Executive.
The survey showed prices had fallen by just over 28% in 2008.
It also confirmed the continuing low volume of house sales, wit... read more »
The property website daft.ie has reported that rents fell by almost 12% in the past year.
The average rent nationally now stands at €885, down from €1,000 in the same period last year.
The report says 10,000 new properties come to the market every month, meaning that the total number of properties available to rent in the country at any one time is 20,000.
South County Dublin was the area most affected by falling rents, with an average 1% decline over last year to an average rent ... read more »
Former Anglo Irish Bank chairman Seán FitzPatrick was given tens of millions worth of sterling and dollar loans, it has emerged.
Irish Nationwide gave tens of millions worth of sterling and dollar loans to Mr FitzPatrick as part of his loan transfers between the two institutions to conceal up to €122 million in borrowings from Anglo Irish.
The Irish Times reports that Irish Nationwide provided Mr FitzPatrick with loans of $56 million and £14 million on 26 September, 2007.
The ... read more »
Bank of Ireland and AIB Group have agreed to delay issuing repossession orders on homes for 12 months as part of the Government recapitalisation plan.
The banks have told Government that delaying repossession proceedings for those in arrears on their mortgages for any longer would be viewed negatively by investors.
The issue of mortgage arrears has become more central in the €7bn recapitalisation talks because of rising unemployment levels.
Negotiations continue today and any final ... read more »
Fine Gael Leader Enda Kenny has said the pay and actions of top banking executives must be reviewed before the Government's finalises its €7bn recapitalisation plan for Bank of Ireland and AIB.
Speaking on RTÉ Radio's Morning, Mr Kenny said taxpayers' money should be carefully employed
Last night, Minister for Finance Brian Lenihan said there was much tougher talking to be done before the Government signs off on the plan.
He said the Government will call the shots and will have a sub... read more »
