Property prices fall in October, according to CSO

November 26, 2012 The MyHome Newsdesk by The MyHome Newsdesk
Property prices fall in October, according to CSO

Residential property prices fell by 0.6% in the month of October, according to the latest figures from the Central Statistics Office (CSO).

The fall compares with an increase in prices of 0.9% in September and a decline of 2.2% in October last year.

In Dublin, residential property prices also fell in October by 0.2% and were 7.1% lower than a year ago.

Dublin house prices also declined by 0.2% in the month but were 7.8% lower compared to a year earlier. Dublin apartment prices were 7.1% lower when compared with the same month last year.

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The price of residential properties in the Rest of Ireland (excluding Dublin) fell by 0.9% in October compared with a decline of 2% in the same month last year. Prices were 8.9% lower than in October 2011.

In the year to October, prices at a national level fell by 8.1%. This compares with an annual rate of decline of 9.6% in September and a decline of 15.1% in the 12 months to October 2011.

House prices in Dublin are 55% lower than at their highest level in early 2007. Apartments in Dublin are 63% lower than they were in February 2007. Residential property prices in Dublin are 56% lower than at their highest level in February 2007. The fall in the price of residential properties in the Rest of Ireland is somewhat lower at 47%. Overall, the national index is 50% lower than its highest level in 2007.

CSO figures take into account mortgage drawdowns from the main lending institutions but their stats do not include data involving cash buyers.

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Uncategorized apartment cash buyers Central Statistics Office CSO declined

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