A recent report from the Economic Social Research Institute (ESRI) shows that house prices dropped by an average of €2,452 in April of this year, a decline of 0.8 percent. The reduction in April follows a reduction of 0.6 percent in March and means that from January to April house prices nationally decreased by 1.3 percent. This compares to a growth of five percent in the same period last year. From April 2006 to April 2007, house prices in Ireland rose by 5.1 percent. From April 2005 to April 2006, house prices rose by 13.2 percent.