House prices rise in Dublin
News: difficult times for remaining markets of Ireland.
In Ireland there is a glint of optimism that the 5-year real-estate slump may be coming to an end. The latest housing data has shown that overall prices in Dublin was up 0.5% in January, representing an increase of 2.1% over last year’s figures.
The rest of Ireland
Despite the slight resurgence experienced in Dublin, it may take some time for the rest of the country to catch up, as on a national basis, prices were down 0.6% in January, the second national monthly drop in a row.
Falling house prices
- Up to January of 2012, residential real estate prices nationally, were down 3.3% as shown by the Central Statistics Office. This compares more favorably with the annual decline of 4.5% in December of 2011 and an overall decline over 12 months up to January 2012.
- Even in Dublin itself, not all real-estate categories performed well. Though house prices in Dublin were up 0.3% month to month and were up 2.8% year on year, apartment prices were down 4.6% when compared with the same month of 2012.
- To make matters less attractive, the price of residential properties in the rest of Ireland fell by 1.6% in January compared to a drop of 0.7% in January last year. The position in January of 2013 was even more discouraging with a drop of 7% than in January 2012.