Dublin house prices half their boom time high

RESIDENTIAL property prices are continuing to tumble — albeit at a less rapid rate — with figures showing a 12.2% drop in the year to the end of last month.

House prices in Dublin are now almost half what they were in 2007 at the height of the boom, and nationally, residential property is now 38% lower than in 2007.

Figures published yesterday by the Central Statistics Office on the Residential Property Price Index (RPPI) shows a bigger drop in the prices of residential properties outside of Dublin last month than in the same month last year — 2.1% this May compared to 1.2% in May 2010.