The release of Residential Property Index figures for the month of December 2011 by the CSO allows the comparison of how house prices have performed between January 2005 and December 2011. Such a comparison provides an overview of when and how the market has changed and what sectors have been affected the most by the downturn in property prices. Rather than having to wade through 20 pages of tables, we have converted the data into a set of interactive graphs that detail overall change, annualised change and RPP index score (baseline 2005). A brief analysis of figures reveals that overall house prices nationally are down 47.1%. Apartments in Dublin have declined more than any other market sector with a fall of 57.7%. Overall house prices in Dublin have fared worse than outside Dublin with a fall of 53.7% in comparison to 42.4% outside Dublin. The period of greatest annual decline was recorded in August 2009 when prices were 20.8% lower than 12 months previously. The decline between Dec 2011 and 2010 was 16.7%. To access the interactive graphs on AIRO click on the image. Full CSO report is available here.
Eoghan McCarthy and Rob Kitchin