RESIDENTIAL PROPERTY PRICES continued to fall last month, new data from the Central Statistics Office has shown.

The average sale price of property prices dropped by 0.8 per cent in July, its latest figures showed, putting the 12-month price drop at 12.5 per cent.

The monthly fall in value was less than half of the drop from June – when prices shed 2.1 per cent of their value – but marked the 46th consecutive monthly drop in prices.

There was some good news for property owners hoping to sell in the capital, though – where the average residential price was unchanged on last month, and where house prices actually increased by 0.3 per cent.

House prices in the capital had increased by the same amount in May, but had lost 2.4 per cent of their value in June, ending any hope of an end to the market slump.

Apartment prices fell by 1.9 per cent over the course of the month, and how stand over 54 per cent off their peak. House prices in the capital are 47 per cent off their all-time high.

Outside of Dublin, prices fell by 1.3 per cent in July, leading to a 12.8 per cent fall in the last twelve months. those prices are now a little over 40 per cent off their all-time peak.