Tipp House Prices Stabilising - Report

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

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%."