Posted by Kelly Fincham at 9/14/2009 8:54 AM EDT

So last year - the 2009 prices

I'm trying to figure out if this is a good time to buy somewhere to live in Ireland.

A new report released at the Construction Industry Federation (CIF) conference in Cork says house prices will continue to go south until at least 2012.

I heard first-hand confirmation of this at the weekend as phase two of an apartment complex went on sale in Bettystown, County Meath.

My brother bought a one-bed in the complex last year for €125,000 ($182k) down from about €260,000 ($378k) the year previous.

Well, guess what. The self-same one-bed apartments are now selling for €95,000 ($138k) and you can get a two-bed for €125,000 ($182k).

Needless to say, my entire extended family went for a nose to see what the new ones are like.

Of course my brother's a little miffed that they dropped again, but nothing compared to those who bought the apartments off the plans at the original prices.