Property prices in Ireland increased by 7.1% in the 12 months to November 2018 on a national basis, but the annual growth was lower in Dublin, the latest official figures show.
House prices in Ireland are expected to rise by around 5% in 2019 after slowing sharply in the third quarter of 2018 before stabilising in the last quarter of the year, the latest research suggests.
Residential property prices in Ireland increased by 8.4% nationally in the 12 months to October 2018, the latest official figures show.
Although Ireland was left with a surplus of houses after the 2008 crash that halved values, homes have become especially scarce as the economy and population grow faster than anywhere else in the EU.
Irish residential property inflation returned to a more than two year high in December, as a long-standing lack of supply combined with surging demand pushed prices up 12.3 percent, data showed on Wednesday.
After rising steadily for four years, real estate prices in and around Dublin and other cities “are now within a year or two of reaching their 2007 peak,” Ronan Lyons, an economist at Trinity College Dublin, wrote in a report about the fourth quarter of 2017, published by Daft, an Irish property search website.
Dublin’s booming property market helped housebuilder Cairn more than triple its revenues last year.
The company’s revenues climbed to €149m (£133m) from €40.9m in 2016 as its sold off 418 homes, almost four times as many as the previous year.
A recovery in prices that began in 2013 has accelerated sharply across the country this year with prices climbing 12.1 % in the year to the end of October as a long-standing lack of supply combined with surging demand
A recovery in prices that began in 2013 has accelerated sharply across the country this year
Sales prices have increased by 47 percent since 2013, when they hit rock bottom, while rents are going up by double digits each year.
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