Residential property prices rise 10.7 per cent over past year

The annual increase, revealed in the latest monthly statistical bulletin, is the largest in almost two years and compares to an increase of 5.4 per cent in the year to February 2016.

Prices increased by 1.5 per cent in February 2017, picking up from a 0.9 per cent increase in January.

In Dublin, residential property prices increased by 8.3 per cent in the year to February. Dublin house prices increased 8.1 per cent, whereas apartments increased 9.1 per cent in the same period. The highest house price growth was in Dublin City, at 9.2 per cent. In contrast, the lowest growth was in Fingal, with house prices rising just 3.7 per cent.

Residential property prices outside Dublin increased by 13.2 per cent in the year to February. House prices increased 13.1 per cent over the period. The West region showed the greatest price growth, with house prices increasing 19.8 per cent. In contrast, the Mid-East region showed the least price growth, with house prices increasing 9.3 per cent. Apartment prices increased 13.9 per cent in the same period.