National house prices have on average fallen by 26.7 per cent since February 2007 and are now at October 2003 levels, according to the latest Permanent TSB/ESRI House Price Index.
Average house prices fell by 1.8 per cent in the month of October to €228,347. This compares with €261,573 in December and a peak of €311,078 in February 2007, when prices peaked.
Prices declined by 12.7 per cent in the first ten months of 2009 and are down 13.9 per cent for the year ending October 31st.
In October, house prices fell by 2.6 per cent in Dublin to € 292,631. Outside of the capital, average prices declined 1 per cent to €199,754. The equivalent prices in December 2008 were €351,096 and €223,984 respectively.
For the first ten months of 2009 average house prices in Dublin were down by 16.7 per cent. For the rest of the country prices declined 10.8 per cent.
In the twelve months to the end of October, house prices declined 19.1 per cent in the capital and 11.5 per cent for the rest of the country.
The Permanent TSB/ESRI House Price Index usually contains figures for new and existing houses, and for prices paid by first-time buyers, but this data was not provided for October because the sample sizes in these categories were so small.
