Property prices in Cork city surpass those in capital after 44% plunge

PROPERTY asking prices are now more expensive in Cork city than Dublin city centre, with prices in the capital plunging by 44% from their peak, according to a report.

Prices fell nationally by 3.4% in the first three months of the year, which was the smallest quarterly fall in almost two years, according to the latest report from property website Daft.ie. Asking prices are down by a third from their May 2007 peak.

The national average asking price last month was €234,000, €120,000 below the peak. Prices in Cork city are a third below the peak, while prices in Limerick city are just 25% below.