Mar 27, 2009
Irish house prices down €55,000 from 2007
The average price paid for a house in Ireland during February was €255,999 down €5,574 compared with €261,573 in December and a peak of €311,078 reported in February 2007.
The ESRI/Permanent TSB figures show that houses prices fell by 0.8 per cent last month, less than the of -1.4 per cent in January. And slightly down on the -0.9 per cent in December.
House prices in Dublin declined by more than €12,000 from €351,096 in December to €339,042 last month. Outside of the capital, average house prices fell by just over €3,000 over the same period to €220,741 from €223,984.
Property prices for first-time buyers fell from an average of €224,153 in December to €216,034 last month.
Permanent TSB’s general manager of business strategy Niall O’Grady said: “While affordability is improving for customers due to the series of rate reductions and two consecutive years of reductions in house prices, customers seem unconvinced that the market has bottomed out yet.”
