Wednesday 22 January 2020

Property prices increase by 1.4pc nationally but fall again in Dublin

Stock photo: Bloomberg
Stock photo: Bloomberg
Charlie Weston

Charlie Weston

Property prices increased nationally in the year to last November.

Prices were up 1.4pc nationally for the period but for the month of November itself prices flat-lined, rising just 0.1pc.

House prices have stabilised over the last year having shot up for five years after a crash a decade ago.

But in Dublin, prices decreased by 0.7pc in the year, according to the latest property price index from the Central Statistics Office. Annual Dublin prices have now fallen for four months.

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Prices outside the capital were up 3.6pc in the year, with a surge of almost 10pc in the Border region.

Experts said prices were falling in the capital as borrowers come up against Central Bank borrowing limits, but were rising elsewhere as values continue to catch up after severe falls over the last decade.

The highest house price growth in Dublin was in Fingal at 3pc, while Dún Laoghaire-Rathdown saw a decline of 6.3pc.

Households paid a median, or typical, price of €259,000 for a home in the 12 months to November 2019.

KBC Bank economist Austin Hughes said prices have been bottoming out over the last year and a half, with increased supply part of the explanation.

Irish Independent

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