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Property market in Ireland saw prices soar at the start of the year

March 14, 2017Article by Chelsea Battle

Property prices in Ireland increased by 7.9% in the year to January 2017, well above the 5.6% recorded in the previous 12 month period, the latest official figures show.

Prices have been rising more outside of Dublin, with an increase of 11.3% year on year, according to the data from Central Statistics Office (CSO) with the highest increase in the west of the country at 18.8%.

Outside the capital house prices increased by 11.2% and apartments by 15.7%. The lowest level of price growth was in the Mid East of the country with house prices rising by 8.9%.

Since the bottom of the housing market in early 2013 prices have now increased by 49.6% with pries in Dublin up 65.2% and the rest of Ireland up 45.9%. The average price is now €242,586.

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