House prices continue to decline with property website Daft.ie reporting values down by as much 18% in the last quarter of 2011.
At the same time, another website MyHome.ie reported an annual rate of decline of 13%.
MyHome says asking prices nationally are now down by 43% compared to the peak - in quarter three of 2006 - while Dublin prices are down 50% over the same period.
The peak to date house price drop observed by Myhome however is not as bad as the worse possible scenario issued by the Central Bank of Ireland in March 2011 after stress tests on the banks. Consultants BlackRock suggested a drop of up to 55% in residential prices before prices rises again.
MyHome says the 2.4% fall seen in the last quarter of 2011 was the slowest rate of quarterly decline in two and a half years.
In Dublin prices declined by 2.8% in the last quarter while the annual rate of decline in the capital was 14.7%.
The author of the report, Annette Hughes, Director DKM Economic Consultants said house prices would not stabilise until the economy improves and employments starts to grow again.
"Right now the ongoing debt crisis in Europe combined with less than encouraging news on the international economic front as well as the fiscal consolidation programme underway means the chances of sustained economic growth in 2012 are questionable," she said.
Daft says asking prices around the country fell by an average of 7.7% between September and December - the sharpest three-month fall in prices to date.
It says the average asking price is now just over €175,000, 52% below the 2007 peak of €366,000.
New figures published in the Daft.ie report outline the speed at which properties are selling around the country.
In Dublin, about one half of properties sell within six months, while in Connacht and Ulster, it takes a full year for the same proportion to sell.
Across the country as a whole, properties that do not sell within the first few months typically find it difficult to find a buyer in subsequent months: most will still be on the market after a year.
