Irish house prices continue to fall
Wednesday, 8 June 2011 11:33 AM
Residential property prices in Ireland decreased by 12.2 per cent year-on-year in the 12 months to April, figures released today reveal.
The rate of decline increased in the year to April, as in the 12 months to March the rate of decline was11.9 per cent.
However, the situation has improved marginally from a year earlier, when a decline of 13.7 per cent was recorded in the 12 months to April 2010.
In Dublin, residential prices fell by 0.7 per cent in April and were 13 per cent lower than a year ago. House prices fell 0.4 per cent month-on-month and 12.6 per cent year-on-year.
Apartment prices dropped1.8 per cent month-on-month in April and were 14.1 per cent lower year-on-year, according to data released by Ireland’s Central Statistics Office.
Dublin house prices are now almost 46 per cent lower than when they were at their height in early 2007, and apartments are now worth almost 53 per cent less than in February that year.
The fall in the price of residential properties in the rest of Ireland was lower at just over 36 per cent. Overall, the national index is 40 per cent lower than its highest level in 2007.
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