House prices have fallen in year-on-year terms for the first time since mid-2020, according to new figures from property listings website Daft.ie.
Its latest House Price Report found that house prices in the second quarter of 2023 were 0.5% lower than the same period a year ago.
According to Daft, the average listed house price between March and June was just under €310,000.
That is slightly lower than the same period last year, and one-sixth below the Celtic Tiger peak.
Asking prices in Dublin dropped by 0.6% during the last 12 months.
Waterford, Cork and Galway cities also saw a fall, but Limerick bucked the trend where prices rose by just over 1%.
The number of homes available to buy on Daft.ie on 1 June stood at just over 13,000, up 5% on last year but well below the 2019 average of 24,200.
The report authors say that while demand has weakened, so has supply - and underlying issues stemming from housing shortages will persist.
Reporting: Sally-Ann Barrett
