Thursday 17 October 2019

Latest property price index shows cooling of the market continues - but prices are still rising

Stock: PA
Stock: PA
Charlie Weston

Charlie Weston

PROPERTY prices rose in the year to March, but the rate of rise is well down on last year.

Prices were up 3.9pc nationally in the year to March.

This compares with an increase of 12.6pc in the year to March 2018.

In the month of March prices were up by 0.2pc, reversing a trend which saw declines in the previous four months.

The cooling down of the market continues, as buyers come up against lending limits imposed by the Central Bank.

Prices in the capital were up 1.2pc in the year to March, according to the Central Statistics Office.

The highest house price growth in Dublin was in South Dublin at 3.4pc, while the lowest growth was in Dun Laoghaire-Rathdown at 0.4pc.

Residential property prices in Ireland excluding Dublin were 6.8pc higher in the year.

The region outside of Dublin that saw the largest rise in property prices was the Mid-West at 12pc, while the smallest rise was recorded in the Mid-East at 1.6pc.

Overall, the national index is 18.6pc lower than its highest level in 2007.

Households paid a median, or typical, price of €250,000 for a dwelling in March, the same as the previous month.

The Dublin region had the highest median price at €368,000.

Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price at €540,000, while Fingal had the lowest at €330,000.

The highest median prices outside Dublin were in Wicklow at €315,001 and Kildare at €294,999, while the lowest were €100,000 in Longford and Leitrim.

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