Image: Leah Farrell Image: Leah Farrell RESIDENTIAL PROPERTY PRICES increased by almost 11% nationwide in the year to August, according to new CSO figures.
House prices are rising faster outside of the capital, up by 10.2% in Dublin compared to 11.5% in the rest of the country, during the same period Rachel McGovern, Director of Financial Services at Brokers Ireland said “it is worrying that prices are accelerating into double-digit growth and that long-standing supply and affordability issues remain.”
Joey Sheahan, head of credit at MyMortgages.ie, said new builds and coastal properties, in particular, are continuing to soar. “With construction sites back up and running following more than a year of stop start production, we would hope to see an increased supply of new homes coming onstream in the near future which should help stabilise prices,” said Grant.