Property prices fall to 50% of 2007 peak

THE collapse in property prices shows no sign of abating as figures show Dublin residential property prices have collapsed by over 50% since the peak of 2007.

The latest residential property price index for August from the CSO show house prices in Dublin are now 48% lower than at their 2007 peak.

The collapse in the price of apartments in Dublin is even more stark, with prices 57% lower than at their peak in February of 2007. The latest fall in prices means the peak-to-trough decline in residential property prices nationally is 43%.