Saturday 3 December 2016

Property prices surge outside Dublin

Published 21/10/2016 | 11:24

Stock photo: keys
Stock photo: keys

THE rate of increase in property prices has picked up, with prices surging outside Dublin.

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Prices rose nationally by 7.2pc in the year to August, according to the Central Statistics Office.

This compares with an increase of 6.7pc in the year to July.

In Dublin, all residential property prices increased by 4.5pc in the year to August.

The highest house growth was in Dublin City and Fingal, with house prices in both increasing by 5.9pc. In contrast, the lowest growth was in Dun Laoghaire-Rathdown, with house prices rising just 1.5pc.

Outside Dublin, prices shot up by 11.4pc in the year to August.

The south-west region showed the greatest price growth, with house prices increasing 14.8pc.

In the mid-east region showed the least price growth, with house prices increasing 5pc.

The strong rises are despite Central Bank lending restrictions designed to put a brake on strong price rises.

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