Sunday 15 July 2018

Greatest rise in house prices in the West as rate of property increases picks up again

Outside of Dublin, residential property prices were 13.3pc higher in the year to December Stock image
Outside of Dublin, residential property prices were 13.3pc higher in the year to December Stock image
Louise Kelly

Louise Kelly

Residential property prices across Ireland rose by 12.3pc in the year to December.

According to the latest figures form the CSO, this increase compares with a rise of 11.4pc in the year to November - and a 9pc rise in the twelve months to December 2016.

In the Dublin area, residential property prices increased by 11.6pc in the year to December, with house prices rising 1.8pc and apartments rising 14.7pc in the same period.

Dublin City reported the highest house growth in the Dublin area, at 13.2pc, with the lowest growth in the region in Dun Laoghaire-Rathdown, where house prices rose 9pc.

Read more: Record-high rents and growing urban-rural divide: Seven things we learned from the latest rent report

Outside of Dublin, residential property prices were 13.3pc higher in the year to December, with house prices increasing 13.2pc over the period.

The West demonstrated the greatest price growth as house prices rose 16.4pc while the South-East region showed the least price growth, as house prices rose 11pc. In the same period, apartment prices in the Rest of Ireland increased 15pc.

Dublin residential property prices are still 24.4pc lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 28.4pc lower than their May 2007 peak.

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