Residential property prices down 3% in the last year
House prices have fallen again around the country, latest figures have shown.
Overall, there was a 3% drop in residential property prices in the year up to last month, according to the Central Statistics Office (CSO) reportk.
Average national residential property prices fell by 0.5% in the month of March of this year, compared with a decrease of 1.5% recorded in February.
However, while the price of a home continues to dip outside Dublin, there has been a 1.4% rise in the city over the same 12-month period.
Houses have risen in value slightly more, but the cost of apartments has dropped by 2.2%.
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.
