Moody’s predicts 20pc fall in house prices

A new report by Moody’s Investor Services predicts that Irish house prices are likely to fall by a further 20pc.

The report noted that Irish house prices have already fallen by 49.9pc between September 2007 and April 2012.

‘Moody’s expects that house prices will fall a further 20pc from today’s levels (bringing the aggregate peak-to-trough fall to 60pc),” the report stated.

The firm also predicted that the Irish economy will only grow 0.2pc in 2012.

Bernice Barrington