According to the latest property barometer asking prices for properties across the country have continued to fall. However, the rate of decrease in asking prices has eased for the second successive quarter, the most notable exception being Dublin city south where the average asking price rose by 1.1 per cent. That’s according to MyHome.ie In Mayo the price of a three bed semi fell by 1.51 per cent to €189,965, down over 34 per cent from peak prices.
Asking prices nationally fell by 3.3 per cent in the first quarter of 2010, compared to a fall of 3.5 per cent in the last quarter of ‘09. The average asking price for a home is now €301,449 compared to €342,666 12 months ago and overall asking prices nationally have fallen 27.3 per cent from their peak.
New homes recorded the largest drop in asking prices in quarter one, declining by 4.4 per cent. This was the largest decrease on any of the MyHome.ie property barometer indices and means the average price of a new home now stands at €271,437. The asking prices for second hand homes fell by 3.2 per cent, the smallest amount of any sector covered. The average asking price for a second hand home is now €305,767 down from €422,990 or 27.7 per cent since the peak of the market.