Careful, it’s your first time

Until quite recently, the white smoke emanating from Ireland’s property market was of the easy to read variety. Prices were soaring to highs that induced bouts of dizziness in even the most levelheaded of homeowners, and the masses clamoured to pour

21st October, 2006

In the last year, however, that climate of hyperactive certainty has transformed almost beyond recognition. The first blow was the interest rate hike in December 2005.This signalled the start of a cooling policy by the European Central Bank, which would see five 0.25 per cent rate rises in less than a year.

The result was twofold. On one hand, buyers found that their borrowing power had been slashed by as much as 25 per cent. And...

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