House prices fall 1% in last 3 months of year

House prices fell by 1% in the final three months of last year for the first time since mid-2013, according to a new report on the property market.

However, the average €193,000 asking price for a house nationwide is still 12.8% higher than it was a year ago, at €171,000. The figure is considerably lower than the peak price of €378,000 in 2007.

The fall was likely influenced by Central Bank plans to tighten lending to house buyers according to author of the Daft.ie report, Ronan Lyons.