House prices fall at one of sharpest levels worldwide

IRISH house prices fell by one of the sharpest levels worldwide in the last year.

A survey, which covers house price growth in 50 countries, placed Ireland in 48th position with an annual fall of 11.9% on the global scale.

Russian houses fell by as much as 13.7% in the same period while Malta was just above Ireland’s drop at 4.1%. Dubai house prices fell by 8.2% for the year.