Figures show 12% rise in house prices

House prices in Ireland rose by 12% in the year to the end of November, according to figures published today by Permanent-TSB.

The figure is double the increase over the previous 12-month period and brings the average price of a house to €203,500.

The Permanent-TSB house price index showed a 1.4% increase in average house prices during the month of November.

The increase in Dublin was 1.9%, while it was 1.1% outside the capital.

Permanent-TSB said it expects the overall increase for 2002 to be around 13%.