The average asking price of property in Ireland fell by over three per cent in the third quarter of 2012, down 14 per cent from the same period last year, according to the latest Daft.ie House Price Report.
In Connacht, asking prices fell by 3.7 per cent on average in the third quarter of the year, having fallen sharply by 7.2 per cent between March and June.
In Mayo, the average asking price was largely stable between June and September, rising by 0.6 per cent. The average price is now €139,000, a fall of 48 per cent from the peak.
Commenting on the report, Ronan Lyons, economist at Daft.ie, said: “The latest Daft.ie report confirms that policymakers need to stop thinking of one national property market. Conditions vary dramatically between Dublin, where the number of properties for sale is at its lowest point since early 2007, and large parts of Munster and Connacht, where stock for sale remains very high. This is seen in activity levels, also, with over half of Dublin listings sold or sale agreed within three months, compared to one quarter in many parts of the country.”
A second report into house prices in quarter three of 2012 by property website MyHome.ie found that the price of a four bed semi in Mayo remained unchanged at €160,000, while the price of a three-bed semi in the county fell by 2.7 per cent to €145,000.
