New figures indicate further slowdown in house prices
27/11/2006 - 12:02:58The long-predicted slowdown in house prices appears to be materialising, with new figures showing the rate of increase falling for the fifth consecutive month.
According to the latest Permanent-TSB house price index, average house prices increased by just 0.6% across the country in October, apparently due to rising interest rates.
However, strong growth in the first half of this year means that prices have still increased by 11.6% since January, compared to 9.3% during all of 2005.
The average price for a house in Dublin is now €424,000, while the average price outside the capital has reached €267,000.
