House prices at 50% of peak values
The average asking price is just over €175,000, more than half of the €366,000 demanded when property prices peaked in 2007, with some experts predicting double-digit falls again this year. According to Daft.ie, asking prices fell almost 8% between last September and December — the largest quarterly fall yet.
The 7.7% fall during the final quarter of 2011 meant the overall drop for the year was 18% — equivalent to the other declines in the past thee years. In the quarter, Dublin saw an average fall in asking prices of 8.9%, while the fall in Cork was 5.4%.
