Sunday 23 October 2016

Property prices fall slightly in November, but still up over the last year

Published 23/12/2015 | 11:25

Photo: Bloomberg
Photo: Bloomberg

PROPERTY prices nationally fell last month, but are still up over the past year.

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New figures from the Central Statistics Office show that prices fell 0.5pc in November, but are up 6.5pc in the past year.

This means that the annual rate of rise has slowed down.

Property prices fell 1.3pc in Dublin in November, but are still up 3.3pc in the past year, the CSO said.

Dublin house prices fell by 1.2pc in the month, reflecting tighter lending rules imposed on banks by the Central Bank.

Dublin apartment prices were up 6.1pc when compared with the same month last year.

Outside the capital prices were up 0.2pc in the month, as people struggling to get mortgage approval are pushed outside the main city when attempting to buy a home.

Since last year, prices have risen by almost 10pc outside of Dublin.

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