Figures show third consecutive fall for house prices

Property prices are down again for the third quarter of the year.

The latest figures from property website MyHome.ie show prices are down 42% from their peak level in 2006.

In Dublin they are down 48% from peak levels and the average price of a house there is €275,000.

The average asking price nationally for a house is now €241,000.

Annette Hughes, Director of DKM economic research, has said people have been on "a house-price rollercoaster" for about five years, and everyone wants to know if the market has bottomed out.