Irish house prices are stable and will start to rise in 2014 say experts
Irish property prices could stabilize in mere months and will even start to rise again as early in 2014, claim experts on the RTE 1 documentary "Property Crash -- Where to Now."
"Banks will lend when both they and the borrowers and the purchasers of houses are confident that they're getting the house at a fair, sustainable price and I think we're getting close to that point," says Professor Patrick Honohan.
Dr Conor Skehan, head of Environmental Planning at the Dublin Institute of Technology, said: "The recovery when it comes will seem to be particularly abrupt in the eastern area."
"I like to make the analogy of what happens when you hold a ping-pong ball under the water and let it go, the way it abruptly pops up, and I think the speed and vigour of the recovery when it happens will surprise many," he added.
However, the house-price rebound will divide the country. Prices are predicted to rise again in Dublin, Wicklow, Kildare, Meath and Louth while property in Leitrim, Cavan, Longford, Roscommon, Sligo, Wexford, Carlow, Waterford, Kerry and Mayo could languish for years to come -- and in some cases never recover, reports the Independent.
The documentary "Property Crash -- Where to Now" will be broadcast on RTE 1 television on Monday night.
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