Property prices continued to rise in December

January 30, 2015 The MyHome Newsdesk by The MyHome Newsdesk
Property prices continued to rise in December

Residential property prices rose by 0.4% in the month of December, according to the Central Statistics Office (CSO).

This compares with an increase of 0.5% recorded in November and an increase of 0.3% recorded in December of last year.

In the year to December, residential property prices at a national level, increased by 16.3%.  This compares with an increase of 16.2% in November and an increase of 6.4% recorded in the twelve months to December 2013.

In Dublin residential property prices rose by 0.2% in December and were 22.3% higher than a year ago.  Dublin house prices rose by 0.3% in the month and were 22.5% higher compared to a year earlier.

Dublin apartment prices were 21.0% higher when compared with the same month of 2013. 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.

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The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 0.7% in December compared with a rise of 0.1% in December of last year.  Prices were 10.2% higher than in December 2013.

House prices in Dublin are 35.6% lower than at their highest level in early 2007.  Apartments in Dublin are 44.9% lower than they were in February 2007.  Residential property prices in Dublin are 37.7% lower than at their highest level in February 2007.  The price of residential properties in the Rest of Ireland is 41.4% lower than their highest level in September 2007.  Overall, the national index is 37.6% lower than its highest level in 2007.

Tags:
Uncategorized apartments Central Statistics Office CSO Dublin houses

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