House prices may not recover for 10 years

House prices have continued to fall amid warnings that it could be a decade or more before prices recover.

Figures from the Sherry FitzGerald index, published yesterday, show that while house prices fell by 3.4% nationwide in the last quarter, they were down 4.4% in Cork.

Prices in Dublin fell by 3% in the same period. House prices in the capital have plummeted 65.8% in real terms since the peak boom levels in 2006.