House prices rise in commuter belt

House prices are on the rise in commuter belts, as industry analysts claim that buyers are being priced out of the market for property in city centres.

Figures released yesterday by the Central Statistics Office revealed that residential property prices rose by 16.2% in the year to November, compared with an increase of 16.3% in October and an increase of 5.6% recorded in the 12 months to November 2013.

,Month on month, residential property prices rose by 0.5% in November compared with an increase of 2.9% recorded in October and an increase of 0.6% recorded in November of last year.