House prices down by further 9.1% last year
House prices in Ireland fell by 9.1% last year, according to figures published today by the ESRI and Permanent TSB.
The fall follows a 7.3% decline in prices during 2007.
Permanent TSB and the ESRI say the average price paid for a house nationally at the end of 2008 was just more than €261,000, compared with €310,000 in 2006.
They are also predicting further price reductions throughout this year as rising unemployment and falling consumer confidence are offsetting the effect of lower interest rates.
