HOUSE PRICES continued their downward slide in the second quarter of the year, although there is evidence residential properties are selling more quickly, according to the latest daft.ie report.

The report indicates homeowners trying to sell properties have now scaled back expectations even further. The data shows the average asking price for residential properties fell by 4.2 per cent nationally to an average of €220,000. Price falls have been most severe in Dublin city centre, where the average property has now almost halved in value.

However, properties in the capital are selling more quickly than elsewhere in the country. According to the report, Dublin properties spent an average of four months on the market before being sold, compared to a year in Connacht and Ulster.