Property prices still rising - but easing rate of increase indicates slight cooling down

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Charlie Weston Personal Finance Editor

Property prices are continuing to rise, but the rate of increase is down indicating a slight cooling down.

New figures from the Central Statistics Office show prices were up by 6.5pc nationally in the year to December.

This compares with an increase of 7.2pc in the year to November and an increase of 12.1pc in the twelve months to December 2017.

However, prices eased back by 0.1pc in the month of December.

Dublin saw prices rise by 3.8pc in the year to December, as the easing off in rises is particularly evident in the capital.

Residential property prices in Ireland excluding Dublin were almost 10pc higher in the year to December.

The region outside of Dublin that saw the largest rise in property prices was the Mid-West at almost 19pc, while the smallest was recorded in the Border at 4.8pc.

Overall, the national index is 18pc lower than its highest level in 2007.

Dublin residential property prices are 21pc lower than their February 2007 peak.

The middle, or median, price paid for a property in December across the country was €260,000. This was up €10,000 on the price paid last November.