Home prices fall 0.2% in July to average €272,946

THE slump in property values is continuing with average house prices falling by a further 0.2% in July, according to the latest results of the Permanent TSB/ESRI house price index.

The ongoing decline in house prices means that they have now dropped by 5.2% in the first seven months of 2008, and by almost 10% over a 12-month period.

The survey shows that property values have fallen by 9.4% on average since a year ago.