CSO: House prices fell at faster rate in January
The rate of decline in house prices increased in January of this year, according to official figures released today.
The average price of residential property in the Republic of Ireland fell by 1.9% in January of this year, compared to 1.7% in December, according to Central Statistics Office figures.
Prices fell 17.4% in the 12 months to January 2012, compared with an annual rate of decline of 16.7% in December and a decline of 10.7% recorded in the 12 months to January 2011.
In Dublin, residential property prices fell by 4% in January and were 21.1% lower than a year ago.
Dublin house prices decreased by 4.1% in the month and were 21.7% lower compared to a year arlier. Dublin apartment prices were 18.4% lower when compared with the same month of 2011.
The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell by 0.7% in January. A similar rate of decline was recorded in January last year.
Prices of these properties were 15.1% lower compared to January 2011.
