Property prices fall by 2.2% in February, according to CSO

Property prices fall by 2.2% in February, according to CSO

House prices continued to fall in February, according to the CSO.

Residential property prices at a national level fell by 17.8% in the year to February, according to the latest figures released by the Central Statistics Office (CSO).

This compares with an annual rate of decline of 17.4% in January and a decline of 10.8% recorded in the 12 months to February 2011.

Residential property prices fell by 2.2% in the month of February. This compares with a decline of 1.9% recorded in January and a decline of 1.7% in February of last year.

In Dublin residential property prices fell by 1.2% in February and were 20.3% lower than a year ago. Dublin house prices decreased by 0.7% in the month and were 20.2% lower compared to a year earlier. Dublin apartment prices were 22.9% lower when compared with the same month of 2011.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell by 3% in February compared with a decline of 1.5% in February last year. Prices were 16.4% lower than in February 2011.

House prices in Dublin are 56% lower than at their highest level in early 2007. Apartments in Dublin are 62% lower than they were in February 2007. Residential property prices in Dublin are 57% 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 45%. Overall, the national index is 49% lower than its highest level in 2007.

There is 1 comment for this article
  1. Paddy, graph fan at 3:19 pm

    Irish house prices are heading in the right direction, down, down down! Perhaps now we can recover from the brainwash job done on us by bribe paying property developers dedicated to maximizing the price average Joe has to pay for his little house or flat.
    Myhome.ie could help us all by publishing a house price graph rather than the confusing collection of words in this article. A simple graph showing average house price on the Y-axis and years on the X-axis will do half the job. A second line representing CPI will tell the whole story. We do not need anyone’s comment or crystal ball inspired opinion, the graph will tell all. You can have a graph for flats in Dublin, houses in Kerry, or whatever you like.
    How about it KD; a graph with a start date back around 1990?

Leave a Reply