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An influential property analyst has revealed house prices have fallen a third since the peak, two property reports revealed today.
The daft.ie survey, which records a large number of asking prices right across the country, put the average down 37% to €195,000.
Ronan Lyons, economist with Daft.ie, said a lack of confidence and finance were pushing prices down.
“My judgment on why house prices are falling has not changed,” he said. “So much property available on the supply side, and on the demand side they don’t have the confidence and if they do they don’t have the finance. Because of that it is unlikely we will see a recovery in house prices any time soon.”
Meanwhile, MyHome.ie, which is heavily weighted in favour of the Dublin market, put the average down 32.4% to €280,000. Both however agreed that the crash has not bottomed out.
(DW/GK)
