Tuesday, July 24, 2012
Some good news from the emerald isles
In the 12-month period up to June, prices fell by 14.4% nationally. This brings the overall decline nationally to 57% since the peak of the market which the CSO estimates as having been in 2007. House prices are 56% lower in the capital and apartment prices are down 62% since the peak. Residential property prices in the rest of Ireland are now 47% lower than the peak. Many analysts had suggested that recent price rises in Dublin were an indicator that the market had bottomed out, but academics have cautioned that prices would need to show signs of stabilisation for at least six consecutive months to establish a definite trend in this regard.