House prices in Ireland drop for first time since February

National property prices dropped by half a per cent in November, the first decrease since last February, according to the Central Statistics Office.

The CSO’s monthly Residential Property Price Index (RPPI) has revealed that while prices at a national level increased by 6.5% compared to the same period last year, the cost of buying a home decreased by 0.5% in the month of November.

Prices had, however, increased by 1.6% over the month of October.