Housing market has bottomed out: Study

House prices may have fallen as much as 68% in real terms since the height of the boom, according to a report which suggests the market has finally bottomed out.

Goodbody Stockbrokers’ analysis of the five Allsop/ Space public auctions of distressed properties claims the results show the fall in property prices was even more dramatic than other indices, such as the CSO house price index, have shown.

Using prices achieved at the auctions with rental yield, the analysis indicates that securing a property now at auction prices may mean better long-term value.