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Crash Cruise Speed Reached In Ireland?

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From 0.5% to 1.3% inside a month is without a doubt quite an acceleration

House prices in Ireland fell 1.3% in first 4 months of 2007

House prices fell 1.3% in first 4 months of 2007. Price of new houses rose slightly - prices in Dublin's commuter counties have had biggest falls. In the first four months of 2007 prices nationally decreased by 1.3%, compared to first four months growth of 5.0% in 2006...

The average price paid for a new house in April 2007 was €304,161, while that paid for a second hand house was €307,763. The equivalent levels in December 2006 were €302,645 and €312,709. The average price paid for a house in Ireland in April was €2,452 less than the average price paid in March according to the latest edition of the permanent tsb / ESRI House Price Index. This equates to a decline in national prices of 0.8% in April. This follows the reduction in national house prices of 0.6% in March.

Measured over the past 12 months (up to and including April), the average price paid for a house in Ireland was still 5.1% higher in April 2007 than the price paid in April 2006. However this was a lower increase than the 7.4% difference in national prices which occurred between March 2006 and March 2007. This time last year prices had increased by 13.2% over the previous 12 months (April 05 to April 06).


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