Property prices rise for second successive month, according to CSO

September 26, 2012 The MyHome Newsdesk by The MyHome Newsdesk
Property prices rise for second successive month, according to CSO

Residential property prices rose by 0.5% in the month of August, according to the latest figures from the CSO.

The latest boost for the property market follows a 0.2% increase in July and compares with a decline of 1.6% this time last year.

In Dublin residential property prices fell by 0.5% in August and were 13.8% lower than a year ago. Dublin house prices decreased by 0.7% in the month and were 14.4% lower compared to a year earlier. Dublin apartment prices were 13.4% lower when compared with the same month of 2011.

In the year to August, residential property prices at a national level, fell by 11.8%. This compares with an annual rate of decline of 13.6% in July and a decline of 13.9% recorded in the twelve months to August 2011.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 1.3% in August compared with a decline of 0.3% in August last year. Prices were 10.7% lower than in August 2011.

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House prices in Dublin are 56% lower than at their highest level in early 2007. Apartments in Dublin are 63% lower than they were in February 2007. Residential property prices in Dublin are 57% lower than at their highest level in February 2007. The fall in the price of residential properties in the Rest of Ireland is somewhat lower at 46%. Overall, the national index is 50% lower than its highest level in 2007.

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Uncategorized apartment apartment prices August Central Statistics Office CSO

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