HOUSE prices in Tipperary continue to fall though the rate of decline is slowing, according to a report published this week. The average house in Tipperary now costs E185,461, according to housing website Daft.ie
This represents a drop of 10.8% in asking prices across the county during 2010, and a quarter-on-quarter change of -2.9%. The change from the peak prices is -29%. The report argues that the housing market has now fragmented into different sections, with each region of the country at a different stage on the path to recovery.
Tipperary and rural Munster are behind Dublin and the cities on the path to adjustment. "These figures mean that almost 7% of properties in these (rural) areas are for sale," says Ronan Lyons, an Economist. "To this must be added properties in ghost estates, which constitute in many places a further 5% of semi-detached, terraced and apartment homes. Lastly, on the demand side, the yield on properties in these areas is still below 4%."