Homeowners around the country are selling their properties for almost €60,000 less than this time last year, a property survey showed today.
The figures showed that the asking price for houses in Dublin also fell by €90,000 since June 2008.
The property barometer, issued by Myhome.ie, showed homes in the capital have now dropped by a fifth since their peak just over two years ago.
It found the average asking price nationally is €337,603 compared to €409,448 in Dublin.
Last week the Permanent TSB/ESRI House Price Index said properties were now being sold as the same levels as 2004, with annual rates down 10.9 per cent up to May.
The average price paid for a house was €245,295 compared to peak of €311,078 in February 2007, it said.
But the Myhome barometer stressed there was a significant easing in the rate of decline in asking price in recent months.
It also revealed many of the provincial cities faired well compared to both the overall national and Dublin asking price declines.
In Cork city the average asking price for a three-bedroom semi detached home fell by 10.7 per cent, while in Galway city four-bedroom semi detached homes saw a 12.76 per cent decrease. In Limerick city three-bedroom semi detached homes fell by 6.6 per cent.
Angela Keegan, of Myhome.ie, said the first three months of the year will be remembered as some of the darkest days for the Irish economy and the property market.
“Looking ahead, confidence and unemployment are going to continue to be the two big drags on the property market but it could be that we are edging just a little bit closer to a period of stabilisation in the market,” she added.
The MyHome.ie barometer is compiled from asking-price data collected from a quarterly snapshot of active, available properties for sale on the website.
Economist Paul Murgatroyd said the results are in line with the weakness of the economy over the last 12 months, a period he maintained will go down as one of the toughest in the State's history.
"Unemployment has doubled over the period in question and consumer confidence has fallen to an all-time low, brought about by job losses, fears about future employment prospects, lower incomes and lower take-home pay as a result of two budgets during that period," said Mr Murgatroyd.
"That said, in recent weeks there have been some tentative signs that some indicators, such as consumer confidence, may be in the process of bottoming out, and if that proves correct it will be an important milestone in this current recessionary period."
PA