Dublin house price average hits €300,000

THE average price of Dublin house sales has smashed the €300,000 barrier for the first time.

Residential property sales this year confirmed a national average increase of 11% but Dublin house prices have shot up by 15.2% over a 12-month period.

New housing index figures also confirmed the national average, at 228,464, has increased threefold over the past seven years. Mortgage lending has also increased dramatically with Central Bank figures showing outstanding mortgages rose by an annual 24.8% to €51.75 billion in the year to end of October.