Wednesday 17 July 2019

Rate of house price inflation eased off again in May

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Charlie Weston

Charlie Weston

THE rate of house price inflation eased off again in May.

Some economists reckon supply is starting to meet demand, causing prices to stop rising at the rate they were up to recently.

Prices rose by 2.8pc in May over the last year, compared with a surge of 12.4pc in the year to May last year, according to the Central Statistics Office.

The previous month saw a 3pc increase.

Dublin residential property prices rose by 0.6pc in the year to May.

Residential property prices in Ireland excluding Dublin were 5.1pc higher in the year to May.

Overall, the national index is 18.2pc lower than its highest level in 2007.

Residential property prices in Dublin and the counties other than the capital are both 22pc lower than their February 2007 peak.

Households paid a median price of €251,000 for a dwelling in the year to May, the CSO said.

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