The average price of houses in Limerick fell by almost 15% during 2012.
According to the latest house price survey from MyHome.ie the average cost of a three-bed semi-detached house was €155,000 at the end of the year.
The average price of a three-bed semi-detached house fell during the last quarter of 2012 by 3.1% compared to the previous quarter.
Meanwhile, the average price of a four-bed semi-detached also fell during the final quarter (4.8%) with the average cost being €180,000 in December.
Across the year, houses prices in Limerick fell by more than 13 percent.
Nationally houses prices fell by 14.8% last year with the average house now costing €201,000.
The author of the report, Caroline Kelleher from DKM Economic Consultants said 2012 had been a year of two halves for the property market.
“While we saw relatively high house price declines in the first six months, this gave away to significant moderation in the rate of decline nationally in the latter half of the year and to price stabilisation in Dublin,” she said.