Average house prices to fall by 4% or €12,000

HOUSE prices are expected to fall by 4% this year, cutting €12,000 from average Irish property prices.

This is according to Goodbody Stockbrokers which said, based on indications of the market, it can be reasonably assumed that prices will continue to soften over the coming months.

These comments come in response to the latest TSB/ESRI house price index which show average house prices have dropped by 3% over the first seven months of this year.