Saturday 24 March 2018

Pace of property price falls increased in February – CSO

Charlie Weston Personal Finance Editor

THE pace of property price falls picked up last month, new figures show.

Prices were down by 1.5pc in February, figures out this morning from the Central Statistics Office show.

This is almost double the price decrease in January, when prices fell by 0.6pc.

Over the past year prices have fallen by 2.6pc - but this pace of annualised decline is slower than previously.

Dublin appears to be recovering with a fall of 0.3pc in the month of February, and a rise of 3pc when last month’s prices are compared with those of a year ago.

Prices outside Dublin were down 2.1pc in February, and are down 6pc compared with a year ago.

Over the past five years of the property collapse prices have dropped by 51pc.

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