What is truth?

 Quarter 4 2010 figures

Figures published for Quarter 4 2010
 
·         Average national house price declines by 3.5% in Quarter 4 2010
·         Average national house prices now at Quarter 2 2002 levels
·         38% decrease since peak at the end of 2006
 
Tuesday 18th January 2011 .  While the rate of decline in average house prices in Ireland rose in the final quarter of 2010 compared to the previous quarter, the rate of decline for the year as a whole [2010] was significantly less than what was seen in 2009 according to the latest edition of the permanent tsb/ESRI House Price Index.
 
According to the index, average national house prices in Ireland fell by 3.5% in the 4th Quarter of 2010 [October, November & December] according to the permanent tsb / ESRI House Price Index Quarterly Review published today.  This compares to a reduction in Quarter 3 2010 of 1.3%.
 
The reduction in average national house prices for the full year 2010 was 10.8%.  This compares to a fall of 18.5% in 2009 and a year on year decline of 14.8% to Quarter 3 2010. 
 
The average price for a house nationally in Quarter 4, 2010 was EUR 191,776, compared with EUR 215,086 in Quarter 4 2009 and EUR 311,078 at the peak.  National prices have fallen 38% since the price peak at the end of 2006.
 
Dublin V Rest of Country
Dublin house prices fell by 0.6% in the 4th Quarter of 2010. This compares to a reduction in 3rd Quarter 2010 of 1.2% and a reduction of 3.5% in 2nd Quarter 2010.
 
The reduction in 2010 for Dublin houses was 15.1%. This compares to a fall of 23.4% in 2009 and a year on year decline of 21.0% to Quarter 3 2010.  The average price for a Dublin house in Quarter 4 2010 was EUR 237,480, compared with EUR 238,986 in Quarter 3 2010.
 
House prices Outside Dublin fell by 2.9% in the Quarter 4 of 2010. This compares to a reduction in Quarter 3 2010 of 1.2% and a reduction of 0.8% in Quarter 2 2010.
 
The reduction in 2010 was 8.1%. This compares to a 15.6% decline in 2009 and a year on year decline of 11.2% to Quarter 3 2010.  The average price for a house Outside Dublin in Quarter 4 2010 was EUR 174,570, compared with EUR 179,721 in Quarter 3 2010.
 
Commenting on the figures Niall O’ Grady, General Manager with permanent tsb said “With low transaction volumes, continuing price declines and a sluggish economy, the outlook is for a very subdued property and mortgage market in 2011”.
 
Editors Notes
The permanent tsb/ESRI house price index is based on the agreed sale price and is calculated using data from mortgage drawdowns.

 

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source : http://www.esri.ie/irish_economy/permanent_tsbesri_house_p/

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