Property prices rise nationally but fall in Dublin, according to CSO

Property prices rise nationally but fall in Dublin, according to CSO

House prices nationally rose in July but fell in the capital

Residential property prices rose by 0.2% nationally in the month of July but fell by 0.3% in Dublin, according to the latest figures from the Central Statistics Office.

The increase nationally in July compares with a decrease of 1.1% in June and a decline of 0.8% recorded in the same month last year.

In Dublin residential property prices were 16.6% lower than a year ago. Dublin house prices (excluding apartments) were down 0.2% in the month as well and were 16.7% lower than a year earlier.

In the year to July, residential property prices at a national level, fell by 13.6%. This compares with an annual rate of decline of 14.4% in June and a decline of 12.5% recorded in the twelve months to July 2011.

Dublin apartment prices were 19.6% lower when compared with the same month of 2011.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 0.3% in July compared with a decline of 1.3% in July last year. Prices were 12.1% lower than in July 2011.

House prices in Dublin are 56% lower than at their highest level in early 2007. Apartments in Dublin are 63% lower than they were in February 2007. Residential property prices in Dublin are 57% lower than at their highest level in February 2007. The fall in the price of residential properties in the Rest of Ireland is somewhat lower at 47%. Overall, the national index is 50% lower than its highest level in 2007.

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