Irish House Prices Have Increased Massively In The Past Year

The average price of an Irish house rose 10.7% in the year up to February 2017, according to the Central Statistics Office Property Price Index which was released today. 

This amounts to a increase of 8.1% in the year to January and an increase of 5.4% in the 12 months to February 2016.

In Dublin, residential property prices increased by 8.3% in the year to February. This was broken down into house prices increasing by 8.1% and apartment increasing by 9.1% in the same period.

As for the rest of Ireland, prices of residential property were 13.2% higher in the year to February. House prices in the rest of Ireland increased 13.1% over the period while apartment prices went up by 13.9% in the same period. 

It's still a long way off the peak of the mid-2000s as the following chart testifies:

The below chart indicates the percentage of house price increases in different regions around the country:

Are you surprised by the new figures? let us know in the comments.

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