House prices con­tinue to rise

The Irish Times - Business - - BUSINESS NEWS - EOIN BURKE-KENNEDY

The prop­erty mar­ket is show­ing no signs of cool­ing, with prices ris­ing 13 per cent year-on-year in Fe­bru­ary. This com­pares to an an­nual in­crease of 12 per cent in Jan­uary.

The lat­est of­fi­cial fig­ures from the Cen­tral Sta­tis­tics Of­fice (CSO) ap­pear to be at odds with re­cent re­ports from prop­erty web­sites My­ and, which both re­ported a slow­down in head­line in­fla­tion.

The CSO fig­ures show an­nual price growth in Dublin, where sup­ply pres­sures are most ev­i­dent, is now run­ning at 12.7 per cent, the high­est level in nearly three years.

They also in­di­cate prices in Dublin have risen by over 90 per cent since the low point of the crash, and are 23 per cent off their 2007 peak value. The high­est house price growth in the cap­i­tal was in Dublin City, at 14.2 per cent. In con­trast, the low­est growth was in Dún Laoghaire-Rath­down, where house prices in­creased 9.6 per cent year-on-year.

Prop­erty prices in the Repub­lic, ex­clud­ing Dublin, were 13.3 per cent higher in the year to Fe­bru­ary.

The mid­lands re­gion recorded the great­est level of price growth, with house prices in­creas­ing 14.8 per cent, while the south­east recorded the low­est level growth, with house prices in­creas­ing 8.6 per cent.

The bank sug­gested that house prices would con­tinue to rise, but played down con­cerns of an­other prop­erty-price bub­ble.

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