Irish house prices up 1.1% as more homes built

Irish house prices up 1.1% as more homes built
16/11/2019 , by , in INTERNATIONAL

Annual Irish house price growth slowed to a more than six-year low of 1.1% in September as the number of homes built in the third quarter rose 22% year-on-year in a long overdue supply response, data showed on Thursday.

Residential property prices had shot up from 2013 to 2018 following a property crash just over a decade ago that meant just 4,500 homes were built in 2013 even as a sharp economic recovery began to take hold.

Prices have risen at more sustainable levels this year due to mortgage lending limits putting a lid on double digit percentage rises and supply beginning to catch up. Just over 20,000 homes were built in the 12 months to the end of September, the Central Statistics Office data showed.

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