Property prices plummet 15.1% in past 12 months

HOUSE prices fell last month at their fastest rate for two-and-a-half years.

In further signs that the crash has yet to bottom out, average property prices are down 15.1% in the last year, the largest annual decline since March 2010.

The housing index from the Central Statistics Office also show the cost of a home is now 45% cheaper than the peak in early 2007.