Construction News

21/11/2012

Residential Property Prices Drop By 12%

Over the year to the end of September 2012 residential property prices fell by 12%, according to the latest Residential Property Price Index.

Between April - June 2012 and July - September 2012 residential property prices fell by 1%.

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Whilst prices are still falling the pace of decline is slowing, Q3 2012 had the lowest price fall (1%) since Q2 2010 (0%).

Prices of residential property sold today are now just under half of their peak value (a 55% fall).

While sales prices are falling, the overall number of properties sold has remained at around 3,000 for the last five quarters.

(CD)

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