Dublin houses cost 26% more than elsewhere

A new report shows the average asking price for a three-bed semi-detached house in Dublin is now 26% above the national average.

The latest survey by property website MyHome.ie for the third quarter of 2013 puts the average house price in the capital at €240,000.

The report also shows asking prices are continuing to decline across Ireland.

The author of the report, Caroline Kelleher from DKM Economic Consultants, said the figures show the two-tier market which exists between Dublin and the rest of the country is continuing to gather momentum.

"Nationally, asking prices continue to fall, but at more modest rates - asking prices were down 1.4% in the third quarter which is slightly down on the rate of decline seen in the second quarter.

In Dublin, however, asking prices continue to show signs of growth this quarter, albeit the rate of increase has moderated."

The report follows last week's publication by the CSO of the property price index, which showed a 10% increase in Dublin house prices over the past 12 months.

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