New rules on mortgage lending slowing house price growth

The introduction of the Central Bank’s rules on mortgage lending earlier this year is dampening the growth of house prices, according to economists.

House prices grew by 1.6% last month, according to the latest figures from the CSO, though property prices remain a third lower than their peak in 2007.

The CSO said residential property prices increased 7.6% year-on-year to October 2015.