House price growth accelerating
30/11/2005 - 11:12:42House price growth has accelerated in the second half of this year. Prices for first-time buyers are rising at a much faster rate than for others.
The Permanent TSB/ESRI house price index shows that house prices for first-time buyers rose by 10.8% in the first 10 months of this year, compared with an average of 6.8% for all houses. The figure for second-time buyers was 6.1%. The average price paid by a first-time buyer is now €245,341.
National house prices rose overall by 1.2% in October, slightly faster than September's 1% rise.
The annual rate of growth moved up from 6.2% in September to 7.2%.
