House prices drop 1.1% in a month

HOUSE prices dropped by 1.1% in September — extending a property slump that has reduced prices to the lowest in almost six years.

The latest TSB/ESRI House Price Index shows that nationally prices were down 11.1% in first nine months and prices are now the same as they were at Christmas 2003.

Measured over the 12 months to September, national prices were down by 13.1%.