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House prices in Dublin up 2.2pc last year after strong fourth quarter

PRICES paid for second-hand houses in Dublin shot up by 2.2pc last year after the last three months of the year saw strong demand for property, estate agency Douglas Newman Good said.

It said its own survey shows that the value of second-hand houses in Dublin increased by 3pc in the final three months of 2012.

Douglas Newman Good (DNG) said that the average value of a house in Dublin was €258,529.

According to the report, which analysed annual figures from the Property Price Register, 2012 also showed an increase of activity in the residential market across the country with over 21,725 transactions. This was up 27pc on 2011.

Over €4.3bn was spent on property sales during the year with the average price paid of €201,771 on a nationwide basis.

However, DNG said the building industry in Ireland shows increased signs of continued slowdown with the overall figure for registered completed buildings last year expected to just exceed 8,000 units in total compared to 10,480 for 2011.

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