Irish

Saturday 12 July 2014

House prices rise 5.6pc in the year to November

Published 23/12/2013|11:14

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House prices are rising fast in the capit

NATIONAL residential property prices rose 5.6pc in the year to November, new figures from the Central Statistics Office show.

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This compares with an increase of 6.1pc in October and a decrease of 5.7pc recorded in the twelve months to November 2012.

Residential property prices grew by 0.6pc in the month of November, compared with an increase of 1.8pc recorded in October.

In Dublin residential property prices grew by 1.3pc in November and were 13.8pc higher than a year ago.

Dublin house prices grew by 1.4pc in the month and were 13.1pc higher compared to a year earlier.

Dublin apartment prices were 20.7pc higher when compared with the same month of 2012.

However, the sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.

In the rest of Ireland, residential property prices were unchanged in the month of November. This compares with an increase of 0.3pc in November last year.

However, house prices in Dublin are 47.5pc lower than at their highest level in early 2007. Apartments in Dublin are 56.1pc lower than they were in the same period.

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