RESIDENTIAL PROPERTY PRICES fell again in October by 2.2 per cent, according to the Central Statistics Office.
The Residential Property Price Index showed an annual fall of 15.1 per cent in the year to October compared to a fall of 14.3 per cent in September as prices continued to plummet.
The 2.2 per cent decline in October compares to a fall of 1.5 per cent in September and is a full 1 per cent drop in the decline of 1.2 per cent in October of last year.
The level of decline is highlighted by Dublin’s residential property prices falling by 3.1 per cent in October, 17.5 per cent lower than a year ago.
Residential properties in the rest of the country fell by 2 per cent last month compared with a decline of 1.2 per cent in the same month of last year, meaning prices were 13.8 per cent lower than in October 2010.
House prices in Dublin have now fallen by over 50 per cent since early 2007 and apartments have fallen in price by 60 per cent. The fall in residential properties in the rest of the country is lower having fallen by 42 per cent since early 2007.