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In the year to September, Irish house prices at a
national level, fell by 14.3%. This compares with an annual rate of decline of
13.9% in August and a decline of 11.1% recorded in the twelve months to
September 2010. Dublin apartments are down 59% since Feb 2007.
The Central Statistics office (CSO) said today that residential property prices fell by 1.5% in the
month of September. This compares with a decline of 1.6% recorded in August and
a decline of 1% in September of last year.
In Dublin residential property prices fell by
2.1% in September and were 15.6% lower than a year ago. Dublin house prices
decreased by 1.7% in the month and were 15.3% lower compared to a year earlier.
Dublin apartment prices fell by 4.8% in the month of September and were 19.3%
lower when compared with the same month of 2010.
The price of residential properties in the Rest
of Ireland (i.e. excluding Dublin) fell by 1% in September. A similar rate of
decline was recorded in September last year. Prices were 13.2% lower than in
September 2010.
Overall Decline
House prices in Dublin are 49% lower than at
their highest level in early 2007. Apartments in Dublin are 59% lower than they
were in February 2007. Residential property prices in Dublin are 52% lower than
at their highest level in February 2007. The fall in the price of residential
properties in the Rest of Ireland is somewhat lower at 40%. Overall, the
national index is 44% lower than its highest level in 2007.
