The incoming president of the Irish Auctioneers’ and Valuers’ Institute (IAVI) told members at its agm on Monday that Ireland’s housing market has undergone a correction that will prove to be”a short-term blip.”

Edward Carey told members that this 10 per cent correction has brought prices back to end of 2005 levels and said “allegations of a property crash” should be taken in context against huge cumulative increases since the early 1970s until the market slowdown in March last year. He cited increases of 3,175 per cent for second-hand home since 1974 and 4,800 per cent for new homes since 1970.

Posted: 04|23|08 at 10:13 am. Filed under: Auction News.