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This Is What They're Saying About Property Prices Around The Country Now

By katedemolder

December 20, 2016 at 12:18am

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The Celtic Phoenix is bringing with it both good news and bad news for property buyers, as prices of housing around the country are set to soar.

The rate of increase in property prices has picked up, with prices surging outside Dublin. Two separate reports (myhome.ie and daft.ie) indicate that prices are set to increase in excess of 5% for 2016.

The reports are based on asking prices as opposed to transaction prices, which the Central Statistics Office index is based on.

The report from daft.ie captured a more significant increase, particularly in Dublin, where it recorded an annualised rate of property price inflation of over 5%.

Outside of Dublin, prices shot up by 11.4% in the year to August.

The south-west region showed the greatest price growth, with house prices increasing by a whopping 14.8%. The mid-east region showed the least amount of price growth, with house prices increasing 5%.

These strong rises are in despite of Central Bank's lending restrictions, which were put in place to put a brake on strong price rises.

H/T: www.rte.ie

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