Crash, bang, whallop!
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!The full article contains 164 words and appears in Tyrone Times newspaper.
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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
