Published Date:
04 November 2008
FINALLY, the home truths about the Dungannon property market.
- House prices across the district have plummeted by up to forty percent from their peak.
- First-time buyers all but abandoned the market two years ago and have yet to return
- Many builders put down their tools twelve months ago while building sites which were sold at inflated prices remain undeveloped.
- Homeowners across the district wake up to the nightmare of negative equity and bankruptcy as repossessions begin to rise.
- Local housing experts warn of 'financial meltdown' unless politicians in the Assembly put their rivalries aside and address the crisis.
- Mortgage advisors are being inundated with calls from stressed homeowners trying to remortgage to a better deal.
- Banks warn there is no magic elixir to the housing crash, with everyone due to feel the financial pain.
- This is the gloomy picture that has been painted by Dungannon's mortgage advisors, construction companies and banks.
READ THE FULL STORY ON THE TYRONE TIMES ONLINE!
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Last Updated:
04 November 2008 10:10 AM
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Source:
Tyrone Times
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Location:
Dungannon
