Rise in property prices outside Dublin
Two separate reports on property prices indicate big increases in the cost of buying a home outside of Dublin in the past year.
The reports from websites Daft and MyHome.ie suggest there has been a sharp increase in asking prices for newly listed properties in the three months to the end of June this year.
Both reports indicate prices in Dublin are showing signs of stability.
Daft recorded annual increases of around 14%, 15% and 17.5% in Galway, Limerick and Waterford cities in the year to the end of June.
While overall, it recorded house price increases nationally of on average 6.3% in the year.
The Myhome report showed a 5% rise in asking prices nationally for new properties in the second three months of 2016.
In Dublin, asking prices rose by a more modest 3.6% but that compares to an increase of just under 1% in the first quarter.
The report’s author, Conall Mac Coille, said supply shortages and wage inflation were the key drivers of the surge.
The report from Daft showed a rare increase in the number of properties for sale nationwide between March and June.
However, economist Ronan Lyons said that at 25,260, the number of properties for sale at the end of June was still 15% lower than at the same time in 2015.
