Business Irish

Saturday 19 October 2019

Slight rise in property prices points to stabilisation of house prices, experts say

Photo: Stock Image
Photo: Stock Image
Charlie Weston

Charlie Weston

PROPERTY prices rose slightly in August with experts saying the overall picture points to some stabilisation of house prices.

The Central Statistics Office said prices were up 2pc nationally in the year to August.

In Dublin, prices fell by 0.3pc over the last year.

When Dublin is excluded from the figures, there was a rise of 4.4pc in annual prices.

The region outside of Dublin that saw the largest rise in house prices was the Border at 13.1pc, while the Mid-East recorded a decrease of 0.8pc.

The 2pc rise nationally compares with an increase of 2.3pc in the year to July and an increase of 8.9pc in the 12 months to August 2018.

Housing experts have welcomed the slow-down in the rate of increase.

Despite the overall fall in prices in Dublin, some parts of the county saw price rises.

Fingal, which is the official name for North County Dublin, recorded price rises of 2.3pc.

However, Dun Laoghaire-Rathdown saw a decline of 6.1pc.

The typical, or median, price for a home was €255,000 in the year to August.

Dublin had the highest median price at €367,500 in the year to August.

Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price at €533,000, while Fingal had the lowest at €340,000.

The highest median prices outside Dublin were in Wicklow at €323,500 and Kildare at €302,000.

Leitrim has the lowest median price at €103,543 in Leitrim.

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