Price of one-bed flat is 25pc down

THE value of houses dropped more sharply in Leinster last year than anywhere else in the country, says a new survey.

The auctioneers' body IAVI and the Society of Chartered Surveyors' Society, said that values in the province outside of Dublin fell by 17.1pc during the year. It says the average Leinster one-bedroom apartment fell by as much as 25.4pc in 2010, and the smallest drop was for new two-bedroom townhouses in Dublin which fell by only 12.2pc.

In Munster the drop was 15.2pc, while in Connacht and Donegal, values were down about 15.7pc.

And in Dublin, the average price of a second-hand house fell by 14. pc.