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30/09/2015
Property Prices Increase Nationwide In August
Residential property price rose by 2.3% across Ireland in August, according to the Central Statistics Office (CSO).
New figures from the Residential Property Price Index shows that this is a 0.9% increase from July and a 0.1% rise from June.
In Dublin, prices rose by 2.8%, an 8.2% increase than the same period last year.
In addition, house prices in the capital rose by 3% and apartment prices increased by 0.3%.
Outside of Dublin, residential property prices increased by 1.9%, up 10.8% compared with August 2014.
Merrion Chief Economist, Alan McQuaid, said: "One has to assume that the tighter lending restrictions imposed by the Central Bank and the end of the CGT property purchase incentive scheme as announced in last October’s Budget is weighing negatively and will bring prices down to more affordable levels."
He added that the recent sharp increase in planning permissions should also dampen house prices.
(LM)
New figures from the Residential Property Price Index shows that this is a 0.9% increase from July and a 0.1% rise from June.
In Dublin, prices rose by 2.8%, an 8.2% increase than the same period last year.
In addition, house prices in the capital rose by 3% and apartment prices increased by 0.3%.
Outside of Dublin, residential property prices increased by 1.9%, up 10.8% compared with August 2014.
Merrion Chief Economist, Alan McQuaid, said: "One has to assume that the tighter lending restrictions imposed by the Central Bank and the end of the CGT property purchase incentive scheme as announced in last October’s Budget is weighing negatively and will bring prices down to more affordable levels."
He added that the recent sharp increase in planning permissions should also dampen house prices.
(LM)
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Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
