This article is from page 29 of the 2013-01-01 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 29 JPG
HOUSE values in Clare have more than halved over the past five years as the unprecedented property price crash continues unabated in every corner of the county, The Clare People revealed in October.
This is one of the key statistics contained in a new report published early in the month, which claimed that the prices for houses across a range of sizes in the county have plummetted by just under 53 per cent since the peak of the property price boom back in 2006/2007.
The claim was made by Daft.ie in its latest House Price Report. The study for the third quarter of 2012 has shown the continued acceleration of the property crash in the county, even though it is running at a slower rate than the rest of the province apart from Limerick City.
The average price of a house in Clare in October was € 144, 524, which translated into at 52.9 per cent drop from the peak of € 306,845.
These latest figures. produced by Daft.ie economist Dr Paraic Kenna of NUI Galway. showed that there had been a quarterly fall of 4.8 per cent in the county’s house prices and a drop 19.5 per cent in the past year – this is the biggest year-on-year drop since that property crash started to kick in back in 2008.
Prices in Munster outside the cities fell by 6.8 per cent between June and September, the largest quarterly fall since the crash started.
In Munster, only Limerick County, Tipperary and Waterford City now have lower average houses prices than Clare.
Daft.ie also gave a breakdown of the new average asking prices of housing units in the county, which graphically illustrated the extent of the property crash over the past five years.
The asking price for a one and twobedroom units was € 83,000.
This figures rose to € 124,000 for a three-bedroomed house, € 191,000 for a four-bedroomed house and € 223,000 for a five-bedroomed house.