HOUSE PRICES continued to fall last month with the rate of decline increasing when compared to this time last year.
House prices in Dublin are now 49 per cent lower than at their highest level in early 2007 while apartments have fallen by 59 per cent. The fall in the price of residential properties across the rest of the State is 40 per cent.
The latest numbers from the Central Statistics Office show house prices dropped 1.5 per cent in September. They also show a decline since the beginning of the year of 14.3 per cent.
The monthly fall compares to a decline of 1.6 per cent in August and a nationwide fall of 11.1 per cent since the end of September last year. In September 2010 house prices fell by 1 per cent.
The comprehensive index, which is now widely considered to be the benchmark of property prices, gives detailed data by type of property and by location.
In Dublin residential property prices fell by 2.1 per cent last month and prices are now 15.6 per cent lower than a year ago. House prices in Dublin fell by 1.7 per cent and are now 15.3 per cent lower than a year earlier but apartment prices were even harder hit. They fell by 4.8 per cent which takes the annual decline to 19.3 per cent.
The price of residential properties elsewhere fell by 1 per cent in September which means that prices are now 13.2 per cent lower than 12 months ago.
