May
13
Written by:
Falcondale
Friday, May 13, 2011 11:52 AM
The Central Statistics Office today launched a new national Residential Property Price index, which provides data from the beginning of 2005 to March 2011. The series is based on transactions which are funded by residential mortgages and covers both houses and apartments.
The results show that
- At a national level residential property prices in the year to March 2011 fell by 11.9%. Prices in Dublin fell by 13% in the year while outside of Dublin prices fell by 11%.
- Residential Property Prices, at a national level, reached their highest level in mid 2007 and in Dublin somewhat earlier, at the beginning of the second quarter of 2007.
- Since reaching their highest level, Residential Property Prices have fallen by almost 40% nationally, with Dublin experiencing the largest decline (-47%), while in the rest of Ireland prices fell at a somewhat lower rate (-35%).
- The largest price decline was for Dublin apartments where prices have fallen by 52% since February 2007.
At a national level, houses have fallen by 11.5% in the year to March and by 38% since they reached their highest level in 2007. Nationally, apartments fell by 15.2% in the twelve months to March and by 51% since February 2007.
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