New trends emerge in house prices

The latest data on residential property prices shows that, after some moderation in the opening two months of the year, they have resumed their upward trajectory, writes Oliver Mangan.

Nationally, prices increased by 0.5% in May, after rises of 0.6% in April and 0.9% in March.

The renewal of upward pressure on prices has been expected, as the weakness in January and February mainly reflected temporary factors, such as seasonal issues and uncertainty in relation to the Central Bank’s new rules on mortgage lending.