House prices down 20.3% in the year

INVESTORS have effectively exited the housing market – 93% of house purchased in 2009 were by owner occupiers – as house prices fell by 20.3% in the year and 40.2% from their 2006 peak.

The rate of house price decline moderated as the year progressed bringing total correction in the national market to 20.3% in the 12 months, according to Sherry FitzGerald, Ireland’s largest estate agents.

From the peak of the market in 2006 Dublin house prices have fallen in real terms by 45.7% while nationally they fell has been 40.2%.