House prices surge 15% but Dublin slows

House prices rose by 15% in the year to September, the latest Residential Property Price Index shows.

However, CSO figures show the rate of growth is slowing in Dublin, with property consultants suggesting the market may be entering a new phase of more moderate growth.

Residential property prices rose 1.8% in September, compared with an increase of 2.3% recorded in August. While Dublin’s property prices rose 2.5% in September and are 23.4% higher than a year ago, the changes reflect a slowdown from the 25.1% year-on-year growth recorded last month. Outside the capital, prices rose 7% against the same period last year, and grew 1.1% in the past month.