Business Irish

Friday 30 September 2016

House prices up 1.3pc in first quarter - Sherry Fitzgerald

Published 11/04/2016 | 07:17

Sherry Fitzgerald said prices were up 1.3pc in the first quarter. Photo: Bloomberg
Sherry Fitzgerald said prices were up 1.3pc in the first quarter. Photo: Bloomberg

Residential property rose 1.3pc in value on average in the first quarter of the year, according to one of Ireland's leading estate agents.

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Growth in the 12 months to the end of March was 3.5pc, Sherry Fitzgerald said.

The report said growth was stronger outside Dublin than in the Capital.  The quarterly national growth figure excluding Dublin was 2pc, while residential property outside Dublin was up 6.8pc in the twelve months to the end of March.

“The level of price inflation in the opening quarter was largely consistent with the same period in 2015, and notably lower than the opening quarter of 2014. That said, such figures do mask the true dysfunctional nature of the market," Sherry Fitzgerald chief economist Marian Finnegan said.

The survey said the stock of property available to sell has fallen to the lowest point on record. It said two private investors are leaving the buy-to-let market for every one that enters, continuing a trend.

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