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Irish house prices fall for second successive month
February 28, 2013 / 11:22 AM / 5 years ago

Irish house prices fall for second successive month

DUBLIN, Feb 28 (Reuters) - Irish house prices fell for the second successive month in January, dropping 0.6 percent month-on-month, tempering hopes of a rebound after 50 percent peak-to-trough falls.

Average residential property prices rose four times in the second half of last year, narrowing the annual rate of decline to 3.3 percent in January from 17.4 percent a year earlier, data from the central statistics office showed.

The huge property bubble that burst in 2008 forced the Irish government to plough 64 billion euros ($85 billion) into its banks and left tens of thousands of construction workers unemployed and a generation of mortgage holders deep in debt. ($1 = 0.7510 euros) (Reporting by Conor Humphries; Editing by Alison Williams)

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