Figures show 1% rise in house prices

House prices in Ireland rose by 2.7% in the first three months of this year, according to the latest Permanent-TSB house price index.

The figures compare to a 4% rise in the previous three months and a 1.7% rise in the first quarter of 2002.

Permanent-TSB said house prices rose by 1% last month, bringing the annual increase to 14.5% and the average price of a house in Ireland to €211,500.

A breakdown of the house price index showed that prices in Dublin rose by just 0.1% last month, while the price of houses outside the city rose by 1.2%.

In February, the respective price increases were 0.9% and 0.3%.

Permanent-TSB said the latest figures brought the annual increase in Dublin house prices to 17.6%, while price increases outside the capital were just 12.4%.

The average price paid for a house in Dublin in March was €278,600, while the average price outside Dublin was €183,700.