Tuesday 23 October 2018

Property prices rise at faster pace

Stock photo: Deposit
Stock photo: Deposit
Charlie Weston

Charlie Weston

THE pace of property price rises has picked up.

In the year to April, residential property prices at national level increased by 13pc.

This compares with an increase of 12.6pc in the year  to March, according to the Central Statistics Office.

In April last year prices were rising at a rate of 9.5pc on an annual basis.

In Dublin, residential property prices increased by 12.5pc in the year to April.

Residential property prices in the Rest of Ireland (which excludes Dublin) were 13.6pc higher in the year to April.

But the mid-west region showed the strongest price growth, with a surge of almost 19pc in the value of properties.

The border region showed the least price growth, with house prices increasing 9.3pc.

Economists are predicting price growth rising on an annual basis for the foreseeable future.

Alan McQuaid of Merrion Stockbrokers said the annual rate of increase is now looking like it is set to remain in double-digits for well into 2018 at least.

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