House prices have gone up by 16.2% in the border region
New stats unveiled by the Central Statistics Office (CSO) yesterday show a massive increase in the cost of a house on the border, with prices increasing by 16.2% since last July.
The Residential Property Price Index from the CSO shows that house prices nationally have increased by 8.9% on July 2020.
The price increase on houses in the border region was the most significant at 16.2%, with houses in the South-East having the second most significant increase at 11%.
Dublin also saw significant house price increases, with an increase in prices of 9.2%.
South Dublin saw the highest increase, with prices rising by 11.2%, with Dun Laoghaire Rathdown, Dublin City and Fingal prices rising by 9.8%, 9.4% and 6.5% respectively.
The average price of a house in Dundalk is now €240,588, according to the CSO's records.
Across the country, there were 3,822 dwelling purchases by households registered with Revenue in July 2021.
Of these purchases, existing buildings accounted for 3,221 (84.3%) of those purchases, compared to 601 (15.7%) which were new builds.
Statistician with the CSO, Viacheslav Voronovich, said: “While price growth remained subdued throughout most of 2020, a trend of accelerating growth emerged in the latter part of the year and into 2021.”
“Residential property prices increased by 2.2% annually in December 2020, before price growth rose to 8.6% in July 2021.”
He also added that Covid-19 restrictions impacted on peoples ability to buy houses.
“COVID-19 restrictions impacted on the ability of households to buy dwellings. Households purchased 2,351 dwellings in April 2020, a reduction of 28.9% compared to the same month in 2019.
“Since the latter part of 2020, the number of dwellings purchased by households have returned to pre-COVID-19 levels.
“In the first seven months of 2021, there were 24,280 dwellings purchased by households at market prices. This compares to 24,416 for the first seven months of pre-pandemic 2019.”
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