House prices in Donegal 43% down on the peak

House prices in Donegal have fallen by 43% since the height of the boom, according to figures published this morning by daft.ie.

The average asking price in the county between July and September was €154,000, a fall of €116,000 from the peak.

Across Ulster, house prices remained largely static during the third quarter, following an 8.8% drop over the previous three months. Nationally, prices dropped 3% between July and September.

However, daft.ie economist Ronan Lyons says it's too early to suggest the market is bottoming out, with  lack of credit now a major problem.

He says until more money is available through the banks, the market will remain volatile..........

[podcast]http://www.highlandradio.com/wp-content/uploads/2011/10/lyons1pm.mp3[/podcast]