This article is from page 3 of the 2011-07-26 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 3 JPG
THE extent of the collapse in property prices around the county has been hammered home this week, after industry sources have claimed that a three-storey house in Kilrush has been for sold for as low as € 20,000. The Clare People has been told that a house on Moore Street in the west Clare capital was sold for this knockdown price as the drop in property prices reaches new lows in the county on the back of the economic recession.
When contacted by The Clare People on Monday, the selling agents for one house on Moore Street said that it hasn’t been sold for € 20,000, but that there was an asking price of € 60,000 on the property.
However, other industry sources have confirmed that a sale price of just € 20,000 has been agreed for one house on the street, which boasted five bedrooms, a garden and rear access.
Such a price would represent a 20year low for a house price in Kilrush and puts the town well ahead of the national average when it comes to the depreciation of property values.
Only last February, it was revealed that house prices in the county had dropped by up to 40 per cent in the past five years, figures that now put the decline of the county’s housing market ahead of the national average as calculated by the Economic and Social Research Institute.
The ERSI house prices index revealed that prices had fallen nationally by 38 per cent since 2006, while outside Dublin the drop was 8.1 per cent for 2010.
Figures secured by The Clare People showed that the rates of depreciation were higher again in Clare, with many houses across the county having dropped back as far as 2001 prices.