DUBLIN, Sept 21 Irish property prices roes 2.5
percent month-on-month in July to stand 6.7 percent higher than
a year ago, the central statistics office said on Wednesday, as
it included cash purchases for the first time in a bid to more
accurately measures price changes.
Research from the country's central bank and property firms
has shown that cash buyers have accounted for over 50 percent of
transactions since 2013, while the CSO's index had previously
just been based on mortgage data.
The revised data showed that prices across Ireland are on
average 34.7 percent below the 2007 peak reached at the height
of the property bubble of the last decade, versus an estimate of
33.3 percent in June before the cash purchases were included.
(Reporting by Padraic Halpin; Editing by Alison Williams)