DAFT.IE PROPERTY REPORT
ANNUAL HOUSE PRICE CHANGES
OCTOBER 2014 TO OCTOBER 2015
In August 2014, Dublin house prices were increasing at a rate of 20% annually, fueling fears of another
boom and bust cycle.
Across the remainder of Ireland, during the same period, property prices were hardly moving.
Today, in October 2015, the average house price increase in Dublin has dropped dramatically and property prices in cities such as Limerick (17.3 %), Galway (18.1 %) and Cork (19.1 %) are actually increasing as shown in the table below.
DUBLIN REGION HOUSE PRICES
This slowdown in property prices in the Dublin region could be due to the new Central Bank lending rules, which may have established a more realistic link between house prices and the actual income levels of those people seeking mortgages.
It is almost universally accepted that building rates will need to increase to keep up with demand and to sustain the growth in the economy. One solution, in theory at least, to keep building costs as low as possible, perhaps with direct Government and/or NAMA intervention.
But whether this is a practical proposition is something that only time will tell.
ANNUAL PROPERTY PRICE INCREASES OCTOBER 2014 TO OCTOBER 2015
Central Statistics Office Property Price Review Q3 2015.
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