According to new Central Statistics Office (CSO) figures, residential property prices increased by almost 11% nationwide in the year to August 2021.
Although house and apartment prices have remained 8.8% lower than their 2007 peak, prices have risen by 103.2% since the recession-era low in 2013.
Figures from the CSO reveal that residential prices have increased by 10.9% between August 2020 and August 2021.
However, house prices outside Dublin appear to be rising quicker, with prices up by 10.5% in Dublin and 11.5% in the rest of the country.
The area outside of the capital that experienced the most significant increase was the Border at 20.7%, while the South West experienced an 8.3% rise.
In regards to apartment prices, Dublin experienced an increase of up to 5.7% while areas outside Dublin experienced an increase of up to 16.7%.
Senior Statistician Barra Casey said that today’s figures represent the largest annual change in prices since June 2018.
Casey added that despite the rising prices, there were significantly more transactions in the market in August with households purchasing 3,764 dwellings, which is an increase of 59.6% compared to August last year.
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