Average Irish national house prices dropped by 1.1% in July according to the latest edition of the permanent tsb / ESRI House Price Index. This compares to reductions in June (-1.5%), May (-1.3%) and April 2009 (-1.9%).  In the first seven months of 2009 national house prices have fallen by 8.7% which compares to a reduction of 5.2% in the same period in 2008. Measured over the 12 months (year on year) to July, national prices were down by 12.5%. This compares to a decline of 11.7% recorded in the 12 months to June 2009. The average price for a house nationally in July 2009 was €238,828, compared with €261,573 in December and a peak of €311,078 in February 2007 - -  down 23%.