House prices fell nationally by 0.9 per cent in January, a survey published this morning shows.
It is the fifth consecutive month where there has been a decrease in national house prices, the permanent tsb/ESRI review of house price shows. National house prices have fallen by 3.1 per cent since last September.
The survey also says that in the 12 months to January 2002 national house prices rose by just 2.4 per cent, compared with a growth rate of 20.6 per cent in the 12 months to January 2001. It is the lowest year-on-year growth rate since the house price index began.
The figures represent a 0.5 per cent house price decrease in Dublin for January 2002, and the price of houses outside the capital dropped by 1 per cent.
For the month of January prices fell by 1.5 per cent for new house and 0.7 per cent for second-hand houses, the survey says.
Mr Niall O'Grady, permanent tsb general manager of marketing, said: "Clearly the climate for people considering a house purchase is exceptionally strong".
The average price paid for a new house in January 2002 was €185,726, while that paid for a second-hand house was €180,040.
