Home RSS
Real Estate

Property prices down by 0.6%

Irish Times
Property prices down by 0.6% - property price - Ireland

Residential property prices fell in October, bringing an end to a three month upswing in house values. The Residential Property Price Index, published by the Central Statistics Office, shows that residential property prices were 15.1 per cent lower at the end of last month than at the same point in 2011.

Residential property prices fell by 0.6 per cent in October, following on from rises of 0.2 per cent in July, 0.5 per cent in August and 0.9 per cent in September. The values of such properties have fallen by 8.1 per cent so far this year.

The figures suggest a two-tiered market is operating in the State, with property values outside Dublin down by 0.9 per cent in the month and 8.9 per cent on October 2011.

The market in Dublin continues to be more stable, with house prices falling by 0.2 per cent in the month. House prices in Dublin are 7.8 per cent lower than at the same point last year, with apartment prices 7.1 per cent lower.

The data shows that house prices in Dublin are 55 per cent below the high point recorded in February 2007, with the value of apartments in the city now 63 per cent lower than they were five and a half years ago.

The CSO figures are based on mortgages and do not take into account cash transactions.


Add your comment
  Anonymous comment
  Remember me on this computer

Send me by email any answer to my comment
Send me by email every new comment to this article

Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.