Irish Housing Minister Michael Finneran has published the Quarter 3 2008 Housing Statistics Bulletin setting out details of housing activity in the first nine months of the year.

It has been revealed 5,327 social houses were completed or acquired in the first nine months of 2008, with a further 1,099 new units acquired under the Rental Accommodation Scheme.

A total of 4,946 (includes 1,099 RAS units) social housing units were started or acquired in the first nine months of 2008, with a further 8,591 units in progress at the end of September 2008.

The report said 3,274 units were provided in the first nine months of 2008 under the various affordable housing schemes, up 84% on the same period in 2007.

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This includes 230 units delivered on State/Local authority lands element of the Affordable Housing Initiative and the delivery of 213 houses provided directly by Affordable Homes Partnership.

The average price of a new house nationally was €301,680 in the third quarter of 2008, which was down by -5.5% on the average price in the same quarter in 2007.

The average price of a second hand house nationally was €335,762 in the third quarter of 2008, which was down by -10.3% on the average price in the same quarter in 2007.

The average price for a house approved for a loan in the Dublin area was €347,233 (new) and €412,152 (second-hand), both down by -15.8% in the same quarter in 2007.

According to government figures, 12,629 loans were approved for house purchase with a value of €3.2bn in the third quarter of 2008. This was a decrease of -37.8% in volumes and -43.2% in value compared to the same quarter of 2007.

It was reported 14,232 loans were paid for house purchase with a value of €3.7bn in the third quarter of 2008. This was a decrease of -35.0% in volumes and -38.1% in value compared to the same quarter of 2007.

(PR/JM)