Official figures show that residential property prices continued to fall in August, with a particularly sharp fall in the prices of apartments in Dublin.
The Central Statistics Office said overall prices in August fell by 1.6% during the month, leaving prices 13.9% lower than in the same month last year. The annual fall was the biggest since March last year.
Overall, property prices are almost 43% lower than the peak in early 2007. The fall is 51% in Dublin and 40% outside Dublin. House prices in Dublin are 48% lower than their highest level, with apartments now 57% lower.
Dublin residential property prices fell by 3.8% in August and were 14.9% lower than a year ago. Dublin house prices fell by 3.4% month-on-month and were 14.7% lower compared with a year earlier.
Dublin apartment prices fell even more steeply - by 6% during August and 17.4% over 12 months. Dublin apartment prices have dropped by almost 10% in three months.
Outside Dublin, residential property prices fell by 0.3% in August, giving an annual fall of 13.2%.
