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House prices down 3.6% this year (RTE)

04 November 2011

New figures show that house prices fell again last month and are down 3.6% since the start of this year.

The house price index compiled by Permanent TSB and the ESRI shows that the average price paid for a house in September was €299,483, down 0.3% compared with August. Over 12 months, prices have fallen by 2.8% - more than €8,500.

A breakdown showed that house prices in Dublin fell by 1.2% in September, while prices elsewhere rose by 0.1%. Dublin prices are down more than 5% this year. Prices in the commuter counties around Dublin picked up slightly by 0.1%, though they are still down 5.3% in 2007.

Prices for first-time buyers dropped by 1.6%, while for second-time buyers the fall was 0.3%. New house prices were unchanged, but prices for existing houses fell sharply, by 2.2%.