The Department of the Environment is about to release figures which will show that second-hand house prices in Dublin have fallen for the first time since the housing boom began, according to the latest edition of Business & Finance magazine.

The quarterly housing statistics will also show that the rate of increase in new house prices in the capital has fallen substantially.

The report, which is still in draft form, is likely to show that second-hand house prices in Dublin have fallen by as much as 2 per cent in the first three months of this year compared to an increase of 1.3 per cent in the same period last year. Second-hand house prices in other urban centres are also expected to show modest decreases or remain flat.