Irish property prices rise in August

In the month of August, Irish residential property prices rose by 2.3% nationwide.  Residential property prices remained up 9.5% on an annual basis. This is according to the latest house price statistics released today by the Central Statistics Office.

Irish Property Prices are increasing

In Dublin, residential property prices rose by 2.8% in August.  Dublin residential property prices were 8.2% higher than in August 2014.  Some experts attribute it apparent slightly lower rate of recovery to the fact that a far higher percentage of Dublin area properties are disproportionally impacted by the latest mortgage lending restrictions introduced at the start of the year.

Dublin house prices rose by 3.0% in August whilst Dublin apartment prices increased by 0.3%.  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.

Outside of Dublin residential property prices rose by 1.9% in August.   Prices were up 10.8% compared with August 2014.

Overall Decline

At national level residential property prices were 35.4% lower than their peak level in 2007.  Dublin house prices were 34.4% lower than their peak, Dublin apartment prices were 40.4% lower than their peak and Dublin residential property prices overall were  36.2% lower than their highest level.  Outside of Dublin residential property prices were 38.7% lower than their highest level in 2007.

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