Dublin house prices up nearly 15% in 12 months

Houses prices across the State were up 7.8 per cent in the 12 months to the end of March, the latest figures from the Central Statistics Office (CSO) show.

Although prices in Dublin were static last month, year-on-year the market in the capital saw a bounce of 14.3 per cent.

The year-on-year 7.8 per cent increase in residential property nationwide compares with an increase of 8.1 per cent recorded in February and a decrease of 3 per cent in the 12 months to March 2013.

Broken down by category, house prices rose by 0.3 per cent in the month and were 14.3 per cent higher compared to a year earlier.

The news wasn’t so positive in the apartment prices market and prices were down just over 2 per cent on the previous month although they remain 16.6 per higher that the same month last year.

A full recovery is still a long way off with prices in Dublin now 48. 3 per cent lower than they were their highest level in February 2007 while apartments in the capital are 55.4 per cent lower than they were in 2007.

The decline in property prices elsewhere in the State has been slightly less precipitous and currently stands at 47.2 per cent.