House price growth continues to drop

THE increase in house prices continues to moderate growing at a third of the rate they were 12 months ago, according to the latest Permanent TSB house price index.

The index, compiled in association with the Economic Social Research Institute (ESRI), indicates that house values nationally, measured by prices paid, rose by 0.3% in February.

This rate of growth is significantly down from growth of 0.9% in February, 2004, and continues the trend of low growth rates over the last four months: October 2004 +0.3%; November +0.3%; December +0.2%; and January +0.4%.