Ronan Lyons, economist for Daft.ie is urging caution against the introduction of any tax breaks for first-time buyers in next week’s budget saying such measures were “what created the massive bubble in house prices in the first place”.
Daft says the average asking price for a house during the three-month period was just over €312,000, representing a 10.5% fall since the same time last year.
Co Cork and Co Clare have experienced the highest reductions in asking prices during that period.