Residential House Prices Drop By 3%

Residential House Prices Drop By 3%

House prices have fallen again around the country, latest figures show.

 Overall, there was a 3% drop in residential property prices in the year up to last month.

The scale of the fall is significantly less than it was at the same time last year, according to the Central Statistics Office (CSO) report.

While the price of a home continues to dip outside Dublin, there has been a 1.4% rise in the capital over the same 12-month period.

Houses have risen in value slightly more, but the cost of apartments has dropped by just over 2%.

But the CSO warned that there was "greater volatility" in apartment prices because the figures are based on a low number of sales.

Outside Dublin, prices fell by almost 6% since the same time last year.

On a month-by-month basis, there was a slight decrease in overall residential prices between February and March.

The CSO said house prices in Dublin are now 55% lower than the property boom peak in early 2007 - apartments are down 62%.

Elsewhere in the country, residential prices have plunged 49% since their highest levels.

Source : Irish Independent 25/04/2013