Wednesday 12 December 2018

Fewer houses being bought as property prices continue to rise

However, Dublin recorded lowest level of price growth for almost two years

Photo: Bloomberg
Photo: Bloomberg

Charlie Weston Personal Finance Editor

FEWER houses are being bought as property prices continue to rise.

Prices were rose by 8.2pc nationally in the year to September, but the rises in Dublin have continued to ease off.

Economists said the surge in prices in the past few years and Central Bank lending limits are taking the steam out of the market.

The latest figures from the Central Statistics Office (CSO) also show a drop in the number of property transactions.

The CSO said 3,821 property transactions went through in September, down almost 300 from two months previously.

Dublin recorded the lowest level of price growth for almost two years.

Prices rose by 6pc in the capital, the CSO said.

The strongest price rises were in the mid-west region, with prices increasing by 21pc in the last year.

The Border region showed the least price growth, with prices increasing by 5.8pc.

When it comes to Dublin the largest increases were in Dún Laoghaire-Rathdown with price growth at 8.3pc.

In contrast, south Dublin recorded the lowest with prices rising by just 4.2pc.

The median, or middle, price for a property nationwide at the moment is €255,000, up €5,000 in the last month.

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