Figures show rise in house prices

House prices rose by 0.9% during the month of February, bringing the yearly increase to 15.4%, according to the latest Permament-TSB house price index.

The index showed that the average price of a house in February was almost €210,000, compared to more than €181,000 in February of last year.

A breakdown of the figures showed that average house prices in Dublin have grown by 18.6% in the last year to €278,000, while average house prices outside the capital have grown by 13.5% to €181,500.

Niall O'Grady, Permament-TSB's head of marketing, said house prices are expected to continue rising moderately for the remainder of the year.