Price of second-hand homes in Dublin rising at slower pace

The average price of a second-hand home in Dublin is rising at a slower pace, according to a new report.

An REA study indicates the development of new homes in the capital is having an impact on the cost of a second-hand property.

Prices for a three-bed semi-detached home rose just 0.8% in the last three months.

There has also been an increase in time taken to sell those properties.

REA spokesperson, Barry McDonald, outlines the main findings of the latest quarterly report

"We've had another quarter of strong growth throughout the country with values up 8% in the year to date and 1.5% in the quarter," said Mr McDonald.

"However, when you analyse the figures, certainly on a more geographical basis it's clear that the growth and value is less pronounced in the Dublin area, with growth and value of a three-bedroom semi in the city and county at 0.8% for the quarter, which is only a little bit above half what we've seen nationwide."

- Digital Desk

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