Price of new homes surges by 11% in a year

While second-hand home purchases represented 83.7% of the homes bought in August, the price of these homes had risen just 0.6% across the year. File photo: Eamonn Farrell/Photocall Ireland

The rise in the cost of second-hand homes is slowing down but the cost of new homes continues to surge, new figures show.

The latest Residential Property Price Index from the Central Statistics Office says first-time buyers in Cork county paid a median of €55,000 more for a new home in August 2023 compared to the same month last year.