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Thursday, September 23, 2021

The cost of buying a house in Ireland has risen by 8.6%

The Central Statistics Office (CSO) has today released stats which shows the price of a house in Ireland has risen by 8.6% over the past year.

It was discovered that prices in Dublin have risen by 8.1%, but houses outside Dublin have increased by 9.1%.

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The highest growth in Dublin was in south Dublin, where prices grew by 11.2%, while Fingal saw a rise of 6.5%.

Outside of Dublin, house prices were up by 8.7% and apartment prices up by 14.6%.

The region outside of Dublin which saw the sharpest increase was the Border at 16.2%, and the lowest was the south-west where prices grew by just 5.3%.

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In July of this year, 3,822 purchases of new homes were filed with Revenue, which is a rise of 49.2% compared to 2020.

Viacheslav Voronovich, a statistician at the CSO said: “In the period before Covid-19, the annual growth in residential property prices fell gradually from 13.4% in April 2018 to 0.9% in March 2020.”

“While price growth remained subdued throughout most of 2020, a trend of accelerating growth emerged in the latter part of the year and into 2021.” 

IMAGE – “Latvian Euro” by Janitors is licensed under CC BY 2.0

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