House prices rise despite supply hike

NEW house prices are continuing to rise despite a record number of new homes being built.

According to the latest permanent tsb/ESRI house price index, the price of new homes rose by 1.8% in September, 2003, while second-hand prices rose by just 0.1%.

Growth in new house prices were driven by the increase in the prices of houses located outside Dublin. In August, the relative price change was 2.7% and 0.3% for new and second-hand houses.