House prices 'still rising'
Sherry FitzGerald announced today that the average price of a second-hand property in Ireland rose by 3.9% in the second quarter of the year.
This brings inflation for the year to date to 7.6%, while the figure for the 12 months to June 2004 stood at 12.2%. This compares to growth of 11.3% in the year to March 2004.
The pace of inflation in Dublin was slightly stronger in the second quarter of the year standing at 5.6%.
This brings inflation for the year to date in Dublin to 10.0%, while the figure for the 12 months to June 2004 stood at 13.5%.
Despite the acceleration of growth in the second quarter of 2004, the overall trend remains favorable, when compared to the previous 12-month period when price inflation of 16.3% was recorded.
Marian Finnegan, chief economist, Sherry FitzGerald Group said: “The pace of growth was more robust than anticipated during the year to date when properties, particularly at the upper end of the market, increased quite significantly in value.
"This was most notable in the auction market where a record number of properties, over 180, sold for in excess of €1m during the first six months of the year.”
