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Irish property prices rise by 7.1 pct in year to October

Xinhua, December 17, 2016 Adjust font size:

Irish residential property prices at national level increased by 7.1 percent in the year to October, the Central Statistics Office (CSO) said.

This compares with an increase of 7.6 percent in the year to September and an increase of 4.4 percent in the 12 months to October 2015, according to the CSO.

In Dublin, residential property prices increased by 5.5 percent in the year to October. Dublin house prices increased 6.1 percent, whereas Dublin apartments increased 4.1 percent in the same period.

Residential property prices in the rest of Ireland were 10.2 percent higher in the year to October. House prices in the rest of Ireland increased 10.3 percent over the period while apartment prices in the rest of Ireland increased 9.3 percent in the same period.

On an overall basis, the national index is 32.4 percent lower than its highest level in 2007. Dublin residential property prices are 32.7 percent lower than their February 2007 peak, while residential property prices in the rest of Ireland are 37.1 percent lower than their May 2007 peak.

The CSO figures indicated that from the trough in early 2013, prices nationally have increased by 48.4 percent.

In the same period, Dublin residential property prices have increased 64.7 percent whilst residential property prices in the rest of Ireland are 44.7 percent higher. Endit