Average time taken to sell house falls to 8 months

THE average time it takes to sell a house has fallen to eight months from 10 at the start of the year with prices expected to plunge 12% this year.

There are now around 60,000 properties on the market, up from 20,000 at the peak of the housing boom.

According to the latest report from property website Daft.ie, the average time to sell in Dublin is four months, which is similar to late 2008.