Auctioneers: House prices are bottoming out

House prices are on the verge of bottoming out, according to the latest survey from the Irish Auctioneers and Valuers Institute.

The survey shows values have dropped by around 9.2% in the second quarter of this year.

Munster homes were worst hit with their prices falling by nearly 11%, while Dublin prices dropped by almost 8%.

There's been a 17% decline in prices here since the start of 2009.