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[Articles] Irish house price rise eases in August

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  • 19-09-2003 11:42pm
    #1
    Victor
    Registered Users Posts: 78,387 ✭✭✭✭


    Irish house price rise eases in August
    From:ireland.com
    Friday, 19th September, 2003

    House prices are continuing to climb across the State although figures published this morning show a slight easing off in the rate of increase.

    The latest edition of the Permanent TSB House Price Index, in conjunction with the ESRI, shows house prices nationally grew by 0.8 per cent in August compared with a growth rate of growth of 1.1 per cent in July.

    The monthly growth rate for August 2002 was 1.3 per cent.

    In the first eight months of the year, house prices grew by 9 per cent compared with a growth rte of 7.4 per cent in the same period last year.

    The year-on-year increase in national prices has also moderated. In the 12 months to the end of August 2003, the growth nationally was 15 per cent, down from the 15.6 per cent registered in the 12 months to July of this year.

    The average price paid for a house in August was €224,340, almost three times what it was when the index was first begun in March 1996.

    The index also shows that the price gap between a house in Dublin and outside Dublin continues to widen.

    The average price paid for a house in Dublin in August was €298,196, while the equivalent price for a house outside Dublin was €194,125 - seven times the difference that existed in August 1996.
    http://home.eircom.net/content/unison/national/1520573?view=Eircomnet
    IMF warns of property market crash
    From:The Irish Independent
    Friday, 19th September, 2003

    THE International Monetary Fund warned yesterday that soaring house prices could trigger a crash once interest rates begin to rise.

    The prestigious agency, set up in the 1940s to oversee the global economic recovery, has now focused its attention on property prices in a number of countries, including Ireland. It warned property markets in Ireland, the UK, the US, Australia and the Netherlands were in danger of collapse if interest rates rose on better growth prospects.

    In its latest assessment, Bank of Ireland said house prices would rise by 12pc nationally this year.
    http://home.eircom.net/content/unison/national/1520573?view=Eircomnet


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