Survey: Decline in house prices easing
Average national house prices in Ireland fell by 1.3% in the 3rd Quarter of 2010 according to a permanent tsb / ESRI House Price Index Quarterly Review published today.
This is the lowest quarterly reduction since the second Quarter of 2008 and compares to a reduction in Quarter 2 this year of 1.7%.
The reduction in average national house prices in the first nine months of this year was 7.6% as compared to a fall of 11.7% in the first nine months of last year.
Commenting on the figures Niall O’ Grady, General Manager with permanent tsb said “This is the second successive quarter indicating that the pace of decline in house prices is easing. However as the market remains very quiet, it may be premature to conclude that we have reached the bottom of the cycle just yet”
