May 15, 2019 / 10:17 AM / 2 months ago

Irish house price growth shows signs of stabilising

DUBLIN, May 15 (Reuters) - Irish annual residential property price growth showed signs of stabilising in March, data showed on Wednesday, as prices rose by 3.9 percent year-on-year compared to 4.3 percent a month earlier.

A sharp recovery in house prices that began in 2013 and accelerated again two years ago amid tight supply has begun to cool since annual growth hit 12 percent a year ago as house building picks up a little pace and prospective buyers’ affordability is stretched.

Annual price growth in Dublin also showed signs of steadying at 1.2 percent versus 1.4 percent in February. National prices rose 0.2 percent month-on-month — the first monthly increase since October last year — and are 18.6 percent below the peak hit at the height of a property bubble just over a decade ago. (Reporting by Padraic Halpin Editing by Catherine Evans)

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