Irish property prices continue to rise at rapid rates
January 16, 2018 - Ireland
Property prices in Ireland showed no sign of the traditional winter slowdown, recording a rise of 11.6% in the 12 months to the end of November 2017, official figures show.
The data from the Central Statistics Office also shows that this was much higher than the 9.2% recorded in the 12 months to November 2016.
A breakdown of the figures show that prices increased by 11.3% in Dublin. The highest growth was 13.3% in Dublin City and the lowest was 10.8% in Dun Laoghaire-Rathdown.
In the rest of Ireland prices were 11.7% higher in the year to November. House prices were up 11.6% and apartment prices up 13.2%. The West region recorded the biggest growth with house prices up 16% and the lowest was a rise of 8.9% in the Mid-West.
Overall, the national index is 23.1% lower than its highest level in 2007. Dublin prices are 24.1% lower than their February 2007 peak, while prices in the rest of Ireland are 29.2% lower than their May 2007 peak.
It means that from the trough in early 2013, prices nationally have increased by 71.6%. Dublin prices have increased 88.1% from their February 2012 low, whilst prices in the rest of Ireland are 62.8% higher than the trough which was in May 2013.
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