Permanent-TSB reports 1.3% rise in house prices

Average house prices in Ireland grew by 1.3% last month, according to the latest Permanent-TSB house price index.

The increase brings the total rise in house prices in the first four months of 2003 to 4%, compared to 4.6% in the first four months of 2002.

Permanent-TSB said the year-on-year increase to the end of April 2003 was 12.7%, a slight fall on the year-on-year growth rates at the end of March (14.5%) and February (15.4%).

Niall O'Grady, head of marketing with Permanent-TSB, said: "The continued moderation in the annual percentage increase suggests that we are continuing to see some moderation in the rate of growth."

The house price index found that the average price of a house in Ireland during the month of April was just over