Property prices rise – but at slower rate than last year

Property prices rose for the second month in a row in April.

They were up 3.1pc nationally in the year, according to the Central Statistics.

This compares with an increase of 3.8pc in the year to March and an increase of 13.3pc in the year to last April.

Although prices are continuing to rise, the increases this year are at a slower rate than last year.

In Dublin, prices rose by just 0.5pc in the year to April, with no change in house prices.

The highest house price growth in Dublin was in South Dublin at 4pc, while Dun Laoghaire-Rathdown saw the greatest decline in house prices with a fall of 1.5pc.

Residential property prices in Ireland excluding Dublin were 5.6pc higher in the year to April.

The region outside of Dublin that saw the largest rise in property prices was the border at 11.4pc, while the smallest rise was recorded in the Mid-East at 1.5pc.

Overall, the national index is 18.5pc lower than its highest level in 2007.

Dublin residential property prices are 22.5pc lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 22pc lower than their May 2007 peak.

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