February 14, 2018 / 11:18 AM / in a year

Irish annual house price growth hits two-year high of 12.3 percent

DUBLIN, Feb 14 (Reuters) - Irish residential property inflation returned to a more than two year high in December, as a long-standing lack of supply combined with surging demand pushed prices up 12.3 percent, data showed on Wednesday.

A sharp recovery in prices that began in Ireland five years ago showed some signs of stabilising in 2016 before accelerating again last year. Prices are now 23 percent below the peak hit at the height of a property bubble a decade ago.

On the month, house prices rose by 0.5 percent, after a 1 percent rise in November. However, growth over the last three months moderated to 1.8 percent, the slowest pace of expansion by that measure in seven months. (Reporting by Padraic Halpin; Editing by Alison Williams)

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