House prices rise in September, according to CSO

House prices rise in September, according to CSO

Residential property prices rose by 0.9% in the month of September, according to the latest figures from the Central Statistics Office (CSO).

The increase in prices was even greater in Dublin, where prices rose by 2.4% in the month.

The 0.9% increase compares with an increase of 0.5% recorded in August and a decline of 1.5% a year earlier. In the year to September, property prices fell by 9.6%. This compares with an annual rate of decline of 11.8% in August and a decline of 14.3% in the 12 months to September 2011.

In the capital house prices increased by 2.6% in the month but were 10.6% lower compared to a year earlier. Dublin apartment prices were 8.8% lower when compared with the same month of 2011.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell by 0.1% in September compared with a decline of 1.0% in September last year. Prices were 9.9% lower than in September 2011.

House prices in Dublin are 55% 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 56% 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 46%. Overall, the national index is 50% lower than its highest level in 2007.

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