Property prices continue to rise in May

Residential property prices rose by 0.5% nationwide in the month of May, according to the latest figures from the Central Statistics Office (CSO).

Their report also found that prices remained up 13.8% on an annual basis.

In Dublin residential property prices fell by 0.1% in May. Dublin residential property prices were 15.2% higher than in May 2014.

Dublin house prices fell by 0.2% in May whilst Dublin apartment prices rose by 0.4%. However, it should be noted that the sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.

Outside of Dublin residential property prices rose by 1.1% in May. Prices were up 11.9% compared with May 2014.

At national level residential property prices were 37.5% lower than their peak level in 2007. Dublin house prices were 36.4% lower than their peak, Dublin apartment prices were 41.9% lower than their peak and Dublin residential property prices overall were 38.1% lower than their highest level. Outside of Dublin residential property prices were 40.8% lower than their highest level in 2007.

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