CSO reports rise in Dublin house prices24/10/2012 - 11:49:07
The average price of residential property in Dublin rose by 2.4% in September, according to official figures released today.
The figure is a rebound from a 0.5% decrease in August.
Dublin house prices (not including apartments) performed particularly well, increasing in price by 2.6% in the month, but were 10.6% lower compared to a year earlier.
Industry experts have consistently warned this year that the CSO report is lagging behind the real experience on the ground however, with parts of south Dublin in particular seeing growing demand during much of this year.
There was a price fall of 0.1% across the rest of the country, leading to an national price rise of 0.9% overall.
This compares with an increase of 0.5% recorded in August and a decline of 1.5% recorded in September of last year.
In the 12 months to the end of September, the average price of residential property in Ireland fell 9.6%, compared to an annual rate of decline of 11.8% in August and a decline of 14.3% recorded in the 12 months to September 2011.
Dublin apartment prices were 8.8% lower when compared with the same month of 2011.
House prices in Dublin are 55% lower than at their highest level in early 2007.
Apartments in Dublin are 63% lower than they were in February 2007.
Overall, residential property prices in Dublin are 56% lower than at their highest level in February 2007.
The fall in the price of residential properties in the Rest of Ireland is somewhat lower at 46%.
Overall, the national index is 50% lower than its highest level in 2007.
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