Sunday 21 January 2018

Kieran Harte: Once cash sales are taken into account, a very different picture is painted

There are caveats to the CSO's figures – and is reporting a four per cent drop in house prices, says Kieran Harte

Kieran Harte

THE release of the Central Statistics Office (CSO) Residential Property Price Index (RPPI) this week grabbed many headlines for its analysis of the country's property prices rising by 1.2 per cent over the past year.

According to the report, this would signify the first time since January of 2008 that houses across the country are worth more than they were a year ago.

The CSO report is an excellent source of information on the state of the property market. But there are caveats with the compilation of these statistics that explain why the results will differ from other property price indices. This includes our own House Price Report Index which has shown national prices falling by 4 per cent over the same period.

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