Housing Minister promises progress as property prices rise by 12.4% in last year
Housing Minister Darragh O’Brien said that his Department could not yet be certain that prices had peaked. Picture: Jonathan Brady/PA
Residential property prices in Ireland rose by over 12% in the last year, according to new figures.
Data published by the Central Statistics Office (CSO) on Monday shows that residential property prices in Dublin rose by 11.5%, with prices outside the capital increasing by 13.2%.
Nationwide, the increase stands at 12.4%.
Housing Minister Darragh O’Brien said that his Department could not yet be certain that prices had peaked.
“We’ve been dealing with a situation where we had constrained supply,” Mr O’Brien told reporters at the Custom House in Dublin city centre.
He said that his Department was analysing the latest data.
“What will help is supply into next year,” he said.
“The projections for next year in relation to housing delivery are very good.”
“Next year, 2022, will be a significant year in delivery.”
He also said that countries across Europe are dealing with house price inflation.
The CSO figures, which cover the year-long period to September, show that the average price of a home purchased in the last 12 months was 272,000 euro.
In Dublin, the price of a house jumped by 12.4%, while apartment prices also rose by nearly 8%.
Outside Dublin, house prices also climbed – rising by 13% in the last 12 months.
Apartment prices outside Dublin rose by just over 15%.
Beyond the capital, the area around the border saw the largest jump in prices – with house prices rising by 21.9%.
House prices in the mid-east of the country rose by 10.7%.
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