Any signs that the bottom of the market is at hand have not yet registered in MyHat.ie’s monitoring of all asking prices, the firm said.
The overall average drop in asking prices for July was down on recent months, but MyHat.ie said it has seen fluctuations in the rate of change over time before.
"So it is too early to say if there is a slow down in the rate of deflation," a spokesman for the site said.
In Dublin, the average asking price for a three-bed semi-detached property in July was €392,851. This was 1% down on the previous month, and 12% down for the year so far. Compared to July 2008, prices fell by 18%, when the average stood at €478,523.
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Going on asking prices, the peak for the Dublin market was seen in mid-2007, reaching just over €510,000 for three-bed semi-detached properties. That equates to a 23% drop to date from the peak.
"Since then, MyHat.ie has registered drops every month, bar two, in the asking prices for 3-bed semi properties in Dublin. Recent drops of between 1.5 and 2.5% each month suggest that the bottom has still not yet been reached," a spokesman said.
In Cork, the average advertised price for three-bed townhouses (semi-detached plus terraced) in the city for July was €293,617.
This was 2% down on previous month, a 6.5% drop to date this year, and 12% down on July last year. It also illustrated around an 18% fall from the peak average of about €362,000.
June saw the biggest percentage fall yet in monthly asking prices, more than doubling on the previous months in 2009.
In Galway city, asking prices for three-bed townhouses averaged out at €265,646 for July, only marginally down in the month, a massive 13% drop in 2009 already, and down 15% on July 2008 when the average was €314,482.
The peak asking price in mid-2007 reached nearly €335,000, with prices down nearly 21% since then.
The average asking price for a three-bed in Limerick city in July was €222,176 only marginally down on the previous month; an 8% drop so far this year, and an 11% drop on July 2008, when the average stood at €250,870.
(PR/KMcA)
