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House prices via shutterstock
CSO

Property prices in Dublin are 25% higher than this time last year...

… but that still puts them 37.8% lower than their 2007 peak.

PROPERTY PRICES ACROSS the country have continued to rise this month, according to new CSO figures released today.

In the year leading up to October 2014, prices have grown by 16.3% – this included an increase of 1.3% in the month of October across the country.

While there was a steady increase in the price of properties nationwide – the upturn was much more dramatic in Dublin than anywhere else.

When the statistics for Dublin were removed, it was seen that prices rose by 8.3% across the country in the 12 months leading up to October 2014.

Dublin 

Pricing increases were most notable in the capital. In the past month they have risen by 3%, and are now almost a quarter (24.2%) higher than a year ago.

This increase was highest for apartments, which have seen their prices climb by 26.9% since October 2013.

residential property A graph showing property price increases across the country over the last year. cso.ie cso.ie

Boom times 

Despite the increases, property still sit well below their early-2007 peak. A buyer getting into the market can still expect to pay 35.7% less for a house or 44.5% less for an apartment.

Across Ireland residential property prices still sit 42.5% less than their highest level in September 2007. Overall, the national index sits 38.2% lower than its peak.

Property prices have been on the increase since 2013. In the four years between 2009 and 2012, prices fell by more than 10% annually.

Read: The unemployment rate for August has actually been revised down

Also: Ireland’s economy might be picking up, but workers’ earnings are still going backwards

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