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Houses On Sale For 2004 Prices

 

Updated : Sep 2, 2009

The average house price dropped more than €72,000 since the market peaked two years ago

New figures revealed buyers can now purchase a home for the same money as in March 2004.

The latest edition of the permanent tsb/ESRI House Price Index, for the month of July, showed that in the first seven months of the year the average price fell 8.7pc to €238,828

In Dublin, it was€312,822, while outside the capital it was around €209,485.

Niall O' Grady, of Permanent tsb, said the property market remained sluggish through summer with low transaction levels and continuing price declines.

"Prices have now fallen by 24pc since February 2007 and despite lower interest rates and improved affordability, customer confidence in the property market needs to improve before we can expect an increase in activity," said Mr O'Grady.

"It will definitely be a buyers' market for the coming months," reports the Herald.

Elsewhere, the study revealed the average price paid for a new house was €243,719.

 

 

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