House prices will fall 12% this year amid the Covid-19 crisis before staging some sort of recovery in 2021, the chief executive of KBC Bank Ireland Peter Roebben has said. KBC Bank’s drop of 12% in prices would be worse than in 2008 when prices fell almost 7%, according to CSO figures. Under the pessimistic outcome, Irish house prices slide 20% this year and fall again by 5% in 2021. Its optimistic scenario sees house prices falling by 6% this year, rising by 5% in 2021, and by 4% in 2022. Mr Roebben told the Irish Examiner said that with transactions drying up that house prices will inevitably fall.

Source: Irish Examiner May 14, 2020 15:45 UTC