€21bn wiped off value of homes

THE slowing housing market wiped €21 billion off the value of Irish homes last year.

€21bn wiped off value of homes
Wed, 19 Mar, 2008 - 00:00
Niamh Hennessy

Total value of Irish housing stock reduced by 4% in the year to €511bn from €532bn the previous year.

The latest review of the housing market by Halifax, also found that homeowners have €388bn of equity tied up in their properties, compared with €421bn in 2006 and €160bn in 1999.

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