Belfast Telegraph

Price of houses in Republic rise again

By David Elliott

House prices in the Republic climbed for the sixth consecutive month in September, according to latest data, the latest sign the economy of Northern Ireland's nearest neighbour is on the road to recovery.

The Central Statistics Office said prices climbed 1.8% last month compared to August and are now up 3.6% on the same time last year.

The rate of increase was even more marked in Dublin where the price of residential property jumped 3.9% in September compared to August, a move which brings it 12.3% higher than the same time last year.

The news will be welcomed by banks in the capital which expects to exit the European Union bailout scheme by the end of this year.

From January 2014, Ireland will return to the money markets for lending, beating the likes of Greece which was also forced to go to the EU for bailout money.

There are worries that a split between the Dublin housing market and that outside the capital is widening, which would lead to a two-tier market.

Belfast Telegraph