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Irish house prices grow 9.6 percent year-on-year in March
May 12, 2017 / 10:22 AM / 2 months ago

Irish house prices grow 9.6 percent year-on-year in March

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A construction worker carries a set of stepladders at 'The Cedars' housing development site in the town of Swords situated on the outskirts of Dublin November 4, 2013.Cathal McNaughton

DUBLIN (Reuters) - Irish residential property prices rose by 0.1 percent month-on-month in March, but that was still enough to record the highest annual increase in almost two years after the previous month's data was revised lower, data showed on Friday.

House price growth has begun to accelerate again in the fast-growing economy amid a chronic lack of supply and a surge in demand for mortgages following an easing of central bank lending rules and the introduction of a new government subsidy.

Prices nationally were 9.6 percent higher in March compared with growth of 9.4 percent in February that was originally seen above 10 percent.

Dublin prices were up 0.5 percent month-on-month while in the rest of the country they fell 0.2 percent, the Central Statistics Office said.

Reporting by Padraic Halpin; Editing by Hugh Lawson

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