Irish house prices jump 2.9 per cent in April

 

Irish house prices rose nearly three per cent in April, the fastest rate of growth in almost four years, the latest Permanent tsb House Price index said today.

Nationally, prices rose 2.9 per cent in April, compared with a 1.8 percent rise in March and a rise of 1.2 per cent in April last year.

It was the biggest monthly increase since July 1998. According the permanent tsb survey, house prices grew 4.6 per cent in the year to April, already exceeding the 4.4 per cent growth seen in the whole of 2001.

"It's quite clear that house prices are again on an upward curve driven by pent up residential demand from last year and investors returning to the market," said Mr Niall O'Grady, head of marketing at permanent tsb.

The survey showed prices rising faster outside Dublin. House prices in the capital rose 2 per cent in April, compared with 3.4 per cent for properties outside the city.

The average price paid for a house in Dublin in April was euro 241,745, while the equivalent price for a house nationwide was euro 169,020.