Property price inflation slows - but rises stronger outside Dublin
Published 02/07/2015 | 02:30
There has been a sharp slowdown in house-price inflation, with the rest of Ireland now outpacing Dublin.
Prices rose by 1.1pc nationwide in the April to June period, according to an index issued by Sherry FitzGerald.
This brings growth in the year to date to 2.8pc, much lower than the almost 10pc rise recorded in the same period last year.
Financial experts said the lending restrictions brought in by the Central Bank were causing property prices to moderate, particularly in Dublin.
Dublin house prices rose by less than 1pc in the second quarter, and have now risen by just 1.5pc in the year, compared with 12.6pc in the same period in 2014.
Outside the capital there was stronger growth. Prices were up by almost 2pc in the three-month period, and by almost 5pc in the year to date.
Economist with Sherry FitzGerald Marian Finnegan said Cork saw price rises of 6.4pc in the six months to June.
Counties such as Clare, Kerry, Kilkenny and Monaghan saw big price rises, an indicator that the recovery was becoming more broad-based, she said.
There were 10,500 transactions logged in the Property Price Register during the first quarter, she added.