Irish house prices slump to 2002 levels
Published: 22 October, 2010
DUBLIN: Average house prices in Ireland are now at 2002 levels. Prices fell 36% since their peak in 2006 and 1.3% in the Q3 of this year, new figures show.
This is the lowest quarterly reduction since the second quarter of 2008.
The Permanent TSB/Economic and Social Research Institute House Price Index shows house prices nationally have fallen to €198 689 from €233 137 in the third quarter of 2009, and €311 078 at their peak.
The reduction in average national house prices in the first nine months of this year was 7.6%. This compares to a reduction of 11.7% in the first nine months of last year.