The asking price of homes in County Longford continued to plummet in the last quarter of 2012 according to the latest house price survey from myhome.ie.
The county is one of only three along with Leitrim and Laois where the median asking price fell 5 per cent from €100,000 to €95,000 for a three bed semi detached.
Longford also saw a decline of 9.4 per cent in the median asking price of a four bed home, which fell from €132,500 to €120,000. The county’s annual percentage drop in prices of 31.4 per cent is only dwarfed by Laois, which had a decline of 31.7 per cent in 2012.
Despite this, the rate of decline in property prices nationally accelerated somewhat in the last quarter of 2012 with prices falling by 2.9 per cent - compared with a decline of 2.2 per cent recorded in the third quarter - to bring the annual rate of decline to 14.8 per cent.
According to the survey, the mix adjusted average house price nationally now stands at €201,000, down 51.5 per cent from the peak.
Meanwhile, a similar study carried out by fellow property website daft.ie showed that in Longford, prices in late 2012 were 8 per cent lower than the year previous compared to a fall of 23 per cent seen in the year to late 2011. The website says that the average house price in the county is now €115,000, 59 per cent below peak levels with the average two bed home costing €66,269, a three bed fetching €80,528 and a four bed at €119,709.
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