Thursday 17 January 2019

Property prices rise for third month in row amid hopes the worst is over

Charlie Weston

Charlie Weston

A THIRD month in a row of property price rises across the country has prompted hopes that the worst may be over for the bombed-out market.

After five years of price plunges, there was also a strong rise of 2.4pc in house and apartment prices in Dublin.

Values across the state were up 0.9pc in September, after rises in August and July.

But over the past year there was a fall of close to 10pc in prices nationally.

Nationally the average house price is €160,000 while in Dublin the figure is €188,000.

Prices have halved since the peak of the market in 2007.

Economists maintain that we will need to see at least six consecutive months of rises to be sure that one of the worst property collapses in the world was at an end.

But now that there has been three months in a row of rises, hopes were expressed by housing experts that we are nearing the end of the property gloom.

The 2.6pc jump in Dublin house prices in September is biggest increase since August 2006.

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