Irish house prices fell by 18% in 2011
Average asking prices for property in Ireland fell by 18% in 2011, according to a report by property website Daft.ie.
A report published by the property website, shows that asking prices dropped by 7.7% in the three months to December, the sharpest quarterly price fall to date.
It takes the average asking price to just over £175,000 - 52% below its 2007 peak of £366,000.
Ronan Lyons, an economist at Daft.ie, is quoted as saying: "Looking ahead to 2012, confidence and finance are central. It is vital to remember that recovery in the property market does not mean an increase in prices, it means an increase in transactions."
Another Irish property website recently put the decline in Irish house prices for 2011 slightly lower at 13%.
6 January 2012
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