Property prices fall in Ireland

Country:  Ireland

3 April 2009

Average property prices in Ireland are now back to levels recorded in February 2005, following a fall in values.

The latest tsb/ESRI House Price Index shows that average prices fell 0.8% in February, compared to 1.4% in January, 0.9% in December 2008 and 0.5% in November.

Overall, average Irish residential prices have depreciated 9.7% year-on-year, which is moderately better than the data recorded in January. The median price paid for a home in Ireland in February was €255,999 (£231,678), down from €311,078 (£281,422) at the peak of the market.