The average house is now changing hands for around $213,000Google Images

Ireland Central Statistics Office (CSO) figures show that house prices fell by 2.1 percent this June. This is the biggest monthly fall for over two years.

House prices in June were therefore 12.9 percent lower than prices in June 2010.

According to their figures Ireland’s national house prices have fallen by 42 percent since their peak in 2007.
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Although house prices saw a slight rise in May, property prices in Dublin saw a drop of 2.4 percent in June and were down by 12.6 percent of the last 12 months. House prices in Dublin are now down by 47 percent, when compared to the levels in early 2007.

Across the rest of Ireland the price of houses dropped by 1.9 percent in June, with prices 13 percent lower that June 2010.

The prices of apartments in Dublin have fallen by a staggering 54 percent since February 2007 while outside Dublin the fall from the peak is 39 percent.

According to Reuters reports property prices in Ireland have fallen for 43 straight months following the dramatic burst of the property bubble.