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 House prices fall to 2002 levels 7/29/2010 - 10:20:16 AM New figures show the pace of decline in house prices has slowed to a two-year low. A quarterly update from Permanent TSB and the ESRI has revealed a decline of just 1.7% in the second quarter of this year. According to today's figures, the average national house price has now fallen to levels last seen at the end of 2002, a decline of about 35% since their peak at the end of 2006. But the experts also say today's statistics are further evidence that the pace at which prices are falling is slowing down. From April to June of this year, house prices fell at the slowest pace since the same period in 2008. Permanent TSB believes the figures indicate prices are starting to find a more sustainable level after almost three and a half years of decline. |
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