House prices continue to rise with an increase of 12.4% in twelve months

Residential property prices continue to soar according to the latest figures which show national prices increased by 12.4% over the last 12 months.

The latest data from the Central Statistics Office (CSO) revealed that house prices nationally have increased by 12.1% while apartment prices have gone up by 14.9% on a national level.

The 12.4% increase on residential property prices in the year to May compares with an increase of 13.5% in the year to April and an increase of 10.9% in the twelve months to May 2017.

The most significant increase is seen in the mid-west region where house prices have surged by 22.1%.

The least price growth was in the Border region at just 3.7% for houses.

In Dublin, for the 12 month period ending May 2018, residential property prices have increased by 10.7%.

Houses increased by 10.3% while apartments in the capital increased by 13.5% in the same period.

The greatest increase was in Dublin city (14.6%) and the lowest growth was in south Dublin (6.6%).

Excluding Dublin, residential property prices in the rest of the country were 14.1% higher in the year to May.

The national index is 20.4% lower than its highest level in 2007.

From the trough in early 2013, residential property prices have increased nationally by 77.7%.

You can read the full report here.

Digital Desk

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