Irish property prices rise for first time since 2008

The latest property price index from the Irish Central Statistics Office reveals a rise in property prices across Ireland, the first since 2008.

 

Homeownership

Homeownership

In the year to June, residential property prices at a national level, increased by 1.2%. It compares with an annual rate of decline of 1.1% in May and a decline of 14.4% recorded in the twelve months to June 2012.

Residential property prices grew by 1.2% in the month of June. This compares with an increase of 0.3% recorded in May. Prices fell by 1.1% in the month of June of last year.

In Dublin residential property prices grew by 1.7% in June and were 4.2% higher than a year ago. Dublin house prices grew 1.4% in the month and were 3.6% higher compared to a year earlier. Dublin apartment prices were 9.7% higher when compared with the same month of 2012.

However, it should be noted that the sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) grew by 0.7% in June compared with a decrease of 1.0% in June last year.

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