Survey shows slowdown in asking prices for property

A new survey has confirmed that the property market is experiencing a slow down.

A new survey has confirmed that the property market is experiencing a slow down.

The Daft.ie report shows that growth in asking price inflation slowed to 2.1% this month compared with 14% this time last year.

Increases in interest rates are being blamed for the slowdown.

The upper-end of the Dublin market was the highest hit with drops of almost 13% over the past year in Rathmines, Rathgar and Ranelagh, while properties in Howth, Malahide experienced price decreases of 10%.

Asking prices outside of Dublin remained static for the year except for Sligo and Limerick where they rose by 8 and 10.5% respectively.

Mortgage repayments for first-time buyers are about €500 more expensive each month than this time last year.

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