Average home lost €50,000 in value last year

A TYPICAL home lost more than €50,000 last year, almost the exact amount gained in 2006, according to property website Daft.ie’s annual survey.

The property website said asking prices fell by up to 15% in 2008, with the decline in prices accelerating in the latter months of the year.

The country’s average asking price of €295,000 in December 2008 was almost exactly the same as that in January 2006. Property prices reflected a fall of almost 6% in the final three months of 2008.