House prices outside Dublin rise by up to 3% for first time since 2007

A new report shows property prices outside Dublin went up in the first three months of the year.

According to Daft.ie, it is the first quarterly increase outside the capital since mid 2007. Today's figures ending a run of 26 straight quarters of falling values outside Dublin.

Cork and Galway city centre properties rose 2% and 3%, respectively.

Meanwhile, prices in Dublin are 15% higher.

Daft says there are currently fewer than 2,300 properties listed for sale in Dublin, the lowest since June 2006.

Fewer than 800 Dublin houses are coming on the market each month on average, or 10,000 homes over per year.

Daft's in-house economist Ronan Lyons said: "In a city of roughly half a million households, this translates to just 2% for sale - a healthy market would see at least three times this amount coming on to the market each year and perhaps as much as six times."

He added: "The end of price falls around the country is unsurprising when taken together with the figures on supply.

"The total stock of properties sitting on the market fell from 54,000 in March 2012 to 43,000 in March 2013 and to 33,000 in March 2014.

"To put the last two years into perspective, between early 2008 and early 2012, that figure had been stuck persistently above 50,000."

Update 9.30am: Meanwhile, MyHome is tracking a slight fall in prices outside Dublin, of .7%.

Both MyHome and Daft, as well as DNG, all confirm that prices in Dublin are continuing to rise, though by varying amounts.