Average house price falls €100k

THE average price of a house in Ireland has fallen €106,000 from their €311,078 peak to the first quarter of this year, according to the latest permanent tsb/ESRI House Price Index.

The average national house prices in Ireland fell by 4.8% in the first three months of 2010, according to the index. The latest drop compares to areduction in Quarter 1 last year of 4.3% and a reduction of 7.7% in Q4 2009.

The year-on-year decline (Q1 2009 to Q1 2010) was 18.9% and compares to a reduction of 18.5% year on the year to Q4 2009. The average price for a house nationally in Q 1 2010 was €204,830, compared with €215,086 in Q4 2009 and €311,078 at their peak.