Thursday 14 December 2017

House prices crept up last month – but only just

Charlie Weston

Charlie Weston

PROPERTY prices rose for the second month in May, prompting hopes that the worst could be over for the market.

There was a rise of 0.3pc, figures out today from the Central Statistics Office show.

In the year to last May prices were down 1.1pc.

The annual fall in May compares with a drop of 15pc in the same month last year.

Experts said the latest figures show continuing signs of stabilisation in the property market.

The divide between Dublin and the rest of the country continues to widen.

Dublin property prices were up 1.4pc in the year with growth of 0.5pc recorded in May alone.

The price of property in the rest of Ireland, outside of the capital, continues to fall with a decrease of 2.8% recorded in the year to May.

Prices outside of Dublin were up 0.1pc in the month of May.

Calculations based on the CSO figures show that the price of a property nationally is now €156,000, down from €314,000 at the peak of the housing boom in 2007.

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