House values rising by €74.83 every day

AVERAGE house values are rising by close to €75 per day — making property almost as big an earner as income for people on the average industrial wage.

The latest results of the Permanent TSB House Price Index show the average price paid for a house nationally in March was €238,813. The figure represents an increase of over €27,000 on the equivalent price of €211,500 12 months ago. It also translates as an annual rise in property prices of almost 13%.

It means the value of the average family home is increasing by €74.83 per day. In contrast, workers on the average industrial wage of €28,000 per annum earn €76.99 each day a difference of just €2.16.