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No sign of recovery for Irish property market Photo by: Google Images

Average house prices in Ireland continue to slide

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No sign of recovery for Irish property market Photo by: Google Images

May’s increase in Irish housing prices—the first since the 2007 property crash—proved short-lived, as the average price of a home in Ireland dropped 1.1% last month.

May saw an increase of 0.2% in housing prices, prompting hopes of recovery, which were later dashed with last month’s return to the falling trend.

Stockbrokers told the Belfast Telegraph that there were no positive signs for the housing market and predicted that the trend would continue. 

Housing prices have fallen a total of 14.4% in the past year, the Central Statistics Office for the Republic of Ireland found.

According to the Belfast Telegraph, housing prices in Dublin have dropped 245,670 over the last five years, worth 431,000 at the height of the property boom.

Prices in Dublin are now down 62 percent from their Celtic Tiger peak, while prices in the other counties are down 47 percent.

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