Property prices on border region rise 16.1%, new figures show

written by Stephen Maguire September 14, 2019

Property prices in Ireland have increased by 84.7% since early 2013 according to the latest figures from the Central Statistics Office (CSO).

The CSO said that residential property prices nationally rose by 2.3% in July – ending a 14-month run of slowing annual price inflation.

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The 2.3% growth also compared to a 10% increase the same time last year.

The region outside of the capital that saw the largest rise in property prices was the border at 16.1 per cent, while the smallest rise was recorded in the mid-east at 0.4 per cent.

House prices decreased by 0.5% in Dublin, while apartments rose by 0.9% in the year to July. Outside of Dublin, house prices rose by 4.6% and apartments by 5.4% in the same period.

However, the national average price of a house in June 2019 was €263,606, a fall of 2.5% over a period of six months.

Analysts point to a lack of confidence in the market as uncertainty over Brexit continues.

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Leo McCauley of McCauley Properties in Inishowen, Co Donegal, said there were more people buying property in the Border regions but that the figures were pitted against a “very low base” following a severe decline since the recession.

“Things around the Border were so, so depressed,” he told The Irish Times. “My turnover is up this year and I have been busier. Also, there probably hasn’t been a house built in Donegal for 12 years

‘If you see a concrete lorry coming up the main street, it’s like seeing a T-Rex walking up. It’s so archaic at this stage.”

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