Tuesday 6 December 2016

Average house prices still falling across country

Colin Gleeson

Published 01/05/2010 | 05:00

PROPERTY prices were still tumbling for the first three months of this year -- but the Government believes the market will now bottom out.

  • Go To

After the announcement of the 47pc NAMA discount last month, Finance Minister Brian Lenihan said the residential property market "will now be stabilised at a realistic level".

The Permanent TSB/ESRI House Price Index for the first quarter of 2010 shows average national house prices fell 4.8pc in the first three months of this year.

Average prices are now at end-of-2002 levels and there has been a 34pc decrease since the fourth quarter of 2006. The year-on-year decline from the first quarter of 2009 to the first quarter of 2010 was 18.9pc.

The average price nationally in the first quarter of this year was €204,830, against €215,086 in the fourth quarter of 2009 and €311,078 at the peak.

In Dublin, house prices fell by 10.3pc in the first three months of 2010. The year-on-year decline in Dublin from the first quarter of 2009 to the first quarter of 2010 was 24.5pc.

The average price for a house in Dublin in the first quarter of this year was €250,872, compared with €279,753 in the fourth quarter of 2009.

Houses outside Dublin fell by 3.5pc in the first three months of 2010. The year-on-year decline in Dublin from the first quarter of 2009 to the first quarter of 2010 was 16.2pc.

The average price for a house outside Dublin in the first quarter of this year was €183,309, compared with €189,924 in the fourth quarter of 2009.

Irish Independent

Read More

Promoted articles

Editors Choice

Also in Business