House prices down by 12.5% in year to July

House and apartment prices fell by 0.8% last month, according to latest figures from the Central Statistics Office (CSO).

House and apartment prices fell by 0.8% last month and are down 12.5% in the year to July, according to latest figures from the Central Statistics Office (CSO).

This compares with an annual rate of decline of 12.9% in June and a decline of 12% recorded in the 12 months to July 2010

In Dublin, residential property prices in July remained the same in the month of July and were

11.9% lower than a year ago, the CSO said.

The price of residential properties in the rest of Ireland fell by 1.3% in July compared with a decline of 1.5% in the same month of last year.

Residential property prices in Dublin are now almost 49% 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 almost 40%.

Overall, the national index is almost 43% lower than its highest level in 2007.

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