Market Values At 2002 Levels
The rate of decline in house prices nationwide slowed last year, according to the Permanent TSB/ESRI house price index. It shows that national house prices fell by 10.8% last year. This compares to a fall of 18.5% in 2009. House prices have decreased by 38% since the boom at the end of 2006 and are now at levels seen in 2002.
The new index also reveals that average house prices fell by almost 3.5% in the last three months of 2010. This is compared to a fall of 1.3% in the previous three-month period.
It says that the average price for a house in Ireland in the fourth quarter of 2010 stood at €191,776, compared with €215,086 in the fourth quarter of 2009 and €311,078 at the peak of the boom.
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