ニュース
Residential prices fall in Ireland in June after brief rise in May
27-07-2012
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The monthly decline follows a 0.2% rise in May, the first monthly rise in nearly five years which some had hoped was a turning point in the long running trend of collapsing prices.
The figures, based on mortgage drawdown data supplied by banks, showed residential property prices in Dublin, which had seen three months of consecutive growth prior to last month, fell by 0.8% in June and were 16.4% lower than a year ago.
House prices in Dublin are 56% lower than at their highest level in early 2007 while apartments in the city are 62% lower than they were in February 2007.
The price of residential properties in the rest of Ireland fell by 1% in June compared with a decline of 1.9% in June last year. Prices were 13.5% lower than in June 2011.
The fall in the price of residential properties in the rest of Ireland compared with the peak of 2007 is somewhat lower at 47%. Overall, the national index is 50% lower than its highest level in 2007.
Owen Callan, a senior dealer at Danske Markets said that despite a slightly greater decrease in residential property prices in the year to date at 14.4% as compared with the twelve months to June 2011 at 12.9%, international and domestic investors are unlikely to be overly concerned.
‘So far this year, we’ve seen varied reports on house prices in Ireland but this official record should provide more certainty for investors. The fact is that while residential house prices have declined slightly more in the year to 2012, the levels of decline are broadly speaking, stabilising,’ he explained.
‘When compared with Spain for example, international investors will see Ireland as a mostly stable environment. However, it’s clear that they will look for a further steadying of conditions in Ireland over a five to six month period before making any real judgement decisions,’ he added.
