Prices fall for second-hand houses in Dublin

The second-hand house market in Dublin is seeing big cuts in its prices.

Estate agents have slashed prices by as much as 33% in order to get properties sold.

A survey carried out by the Sunday Business Post newspaper has found that €2m has been knocked off the price of one luxury house in Howth Head.

Agents say that although the market is still strong, properties are taking longer to sell.

Analysts have attributed the current slowdown to the rise in interest rates and earlier expectations that there would be a reform of the stamp duty regime.