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The daft.ie survey, which records a large number of asking prices nationwide, put the average asking price down to just below €220,000.

This compares with €365,000 at the height of the property bubble in the middle of 2007, Daft economist Ronan Lyons said.

MyHome.ie said it recorded an average fall of nearlyImages 35% to €271,000 nationally and to €314,000 in the capital.

Daft.ie has found that asking prices for homes fell by 14% last year, with prices falling by 5% in the final three months of the year.

Mr Lyons said Dublin city centre had seen price falls of up to 50% since 2007, while some counties had seen just a 30% drop.

This is partly because the properties did not hit the peaks of Dublin where one house on Shrewsbury Road in Ballsbridge was famously sold for €57m during the boom. 

During 2010, asking prices in Dublin fell 14% on average, compared to a fall of 15% outside major cities. Prices in Galway were 13% lower than a year before, after prices fell sharply in the final quarter of the year.

In Cork, Limerick and Waterford, prices fell by between 10% and 12% over the course of the year. Elsewhere, the extent of price falls varied from less than 10% in Mayo to 20% or more in Wexford and Kilkenny.

'Despite another year of price falls, the market does not yet look in balance,' said Lyons. He said the number of properties for sale was still very high, at almost 60,000, while on the demand side, tight credit and expectations of higher taxes and interest rates were affecting potential buyers.

The Daft.ie figures are broadly in line with those released by MyHome.ie.