No sign of recovery in housing market

THERE will be no recovery in the housing market, which has seen prices plunge by almost 50% from their peak, until the economy shows signs of improvement, according to experts.

In Cork, prices are down by just over 12% in the last 12 months, while in Dublin prices have fallen by more than 50% from their peak, according to Sherry FitzGerald.

The average price of a second-hand property in Dublin fell by 2% in the third quarter of the year, bringing the total drop to just over 11% in the 12 months to the end of September.