Real estate prices soar to €27,000 a year, but growth rate slows

  • Real estate prices soar to €27,000 a year, but growth rate slows
    Independent.t. E.
    Real estate prices continue to grow at double-digit interest rates in June, but the growth rate decreased.
    https://www.independent.ie/business/personal-finance/property-prices-soar-27000-in-a-year-but-rate-of-increase-slows-37217548.html
    https://www.independent.ie/incoming/article37217315.ece/0839f/AUTOCROP/h342/41Woman%20Looking%20in%20INT_ED5_S01%20Read-Only.jpg

  • Email

Real estate prices continue to grow at double-digit interest rates in June, but the growth rate decreased.

Now experts expect price growth to weaken further.

Figures from the Central statistics office show the values by 12 PCs in June of the year across the state, with the most rapid growth outside Dublin.

The median, or middle, value of real estate in the country rose to €27,000 a year in June compared with the same month last year. The average price paid by households this year at home is €237,000.

The growth in June is a little slow, as prices were up 12.4 PC in may and 13.5 PC in April. Slower growth in housing prices in Dublin is mainly responsible for the marginal drop in growth on a national scale.

Buyers in Dublin are against the restrictions of the Central Bank of the creditor, while Dublin sees up-tick in new property.

In Dublin residential property prices rose by 9pc in the year to June.

High

This is the first time there was single-digit growth in Dublin more than a year.

The highest growth in housing prices was in Dublin, 12 PCs.. the Smallest increase was in South Dublin, where housing prices rose 5.9 PC.

Prices in the rest of the country was in June of the year 15.2 PC above.

Economist with Davy Stockbrokers David McNamara said that he expects annual inflation of more than about 8 by the end of this year. But the rise in prices outside Dublin will continue to be stronger as the availability of stretch in the capital.

He said CSO data show that the rules of the Central Bank on mortgage lending began to restrain prices in Dublin.

Economist with Savills estate agents John McCartney said that the price increase outside Dublin was likely to slow next month, as we reached the first anniversary of the strong growth outside the capital.

Austin Hughes of KBC Bank said the supply increases, and demand growth may have peaked.

Online Business Classes