Average house price is falling: TSB

30/05/2007 - 13:55:05
The average price paid for a house in Ireland in April was €2,452 less than the average price paid in March according to the latest edition of the permanent tsb/ESRI House Price Index.

This equates to a decline in national prices of 0.8% in April. This follows the reduction in national house prices of 0.6% in March.

The results for April mean that over the first four months of the year (January to April inclusive) prices nationally decreased by 1.3%. This compares to growth of 5.0% in the same period last year.

However measured over the past 12 months (up to and including April), the average price paid for a house in Ireland was still 5.1% higher in April 2007 than the price paid in April 2006. However this was a lower increase than the 7.4% difference in national prices which occurred between March 2006 and March 2007. This time last year prices had increased by 13.2% over the previous 12 months (April 05 to April 06).

The average price paid for a house nationally in April 2007 was euro 306,619, compared with euro 310,632 in December 2006.