THE LATEST FIGURES on the price of property in Ireland show that the average cost of houses and apartments across the country has risen 7.1% compared to the same period last year.

The Central Statistics Office’s Property Price Index for October 2016 shows an increase of property prices in Dublin up 5.5% on the same period last year, with prices for the rest of the country 10.2% higher than 2015.

Chart showing property price index from January 2005 to October 2016 Source: CSO

Across the board, prices have risen with the lowest annual increase of 3.4% found in Fingal in Dublin.

While the average price of houses in Dublin has risen 6.1%, the price of apartments has gone up 4.9%.

While prices are up all over Dublin, it is outside the capital where the biggest increases have been recorded.

Source: Eamonn Farrell/Rollingnews.ie

The average cost of a house in the midlands is 16.6% higher than last year. In the west and south-west, the average price of a house is well over 10% higher than it was in October 2015.

In the last three months, alone, the average cost of a house in the south-east has gone up almost 10%.

While property prices plateaued in 2007 and went downhill from there, a consistent rise in prices have occurred since January 2013.

The index figure of 88.6 from October 2016 is still 32.4% down on its 2007 peak.

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