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House prices 'falling slowly'-BOI
Thursday, 11 September 2008
House prices are still falling but at a slower rate according to a new survey from Bank of Ireland.
The bank's property review shows that prices were down over 9% in the year to July and are now the back to what they were in November 2005.
The survey also predicts between €45,000 and €50,000 house completions this year - the lowest number since 2000.
Meanwhile a separate study has found that single women here are now buying more houses than men for the first time ever.
The data collected by IFG Mortgages also shows that while the number of people taking out mortgages has fallen, the size of the loans being approved has increased by almost 6%.
The average mortgage is now €231,400 compared to €227,300 last year.
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