Reports show house prices stabilising

Two new reports out this morning show that house prices are beginning to stabilise.

According to figures from the property websites My Home.ie and Daft.ie, prices continued to fall during the last three months of 2012, but the rate of decline is slowing down.

The cost of a house nationally fell by almost 3% from October to December of last year, whereas in Dublin prices dropped by only 1.6%.

This is in contrast with the third quarter of 2012 when house prices in Dublin actually rose for the first time since 2007.

However, Managing Director of MyHome.ie Angela Keegan thinks the varying trends in Dublin is further signs of stabilisation.