Housing price falls in January biggest in three years

Residential property prices fell by 1.4pc nationwide, the Central Statistics Office said.

Economists said that January was traditionally a slow month for property sales, but the figures for the past few months were also showing evidence of a slower pace of price rises.

A number of commentators have attributed the slowdown to new Central Bank mortgage lending limits.

However, many buyers will have got mortgage approval before the lending clampdown.

This approval will generally last for six months, until this summer, so it may be too early to fully assess their impact.

Economists also said there may have been a rush to buy by investors before the end of last year, before tax breaks ended.

Read the full story in the Irish Independent

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