South East property prices rise by almost 11pc – CSO figures

HOUSE prices in the South East rose by just under 11% in the year to September.

New figures released by the Central Statistics Office (CSO) today reveal house prices grew by 10.8% in Kilkenny, Carlow, Waterford, Wexford and Tipperary, with the South East matching the same overall growth experienced outside of Dublin for the same period.

This compares with considerably lower rises in house and apartment prices in the capital, where the increase of just 5.8% marks the first time the growth rate in Dublin has fallen before 6% in 18 months.

Nationally, the annual growth figure of 8.2% in the year to September was the lowest level of growth since October 2016. It was the fifth consecutive month that house prices fell.

The slowdown in growth is concentrated in the most expensive areas of the country, the research reveals.

Dublin house prices increased by 5.5%, while apartment prices were up by 7.8% in the same period.

The highest house price growth in the region was in Dún Laoghaire-Rathdown, at 8.3%, with the lowest growth in South Dublin, where house prices rose by 4.2%.

The CSO numbers also show property price growth outside of Dublin continues to outpace growth in the capital. Prices outside of Dublin were 10.8% higher in the year to September.

The Mid-West region showed the greatest house price growth at 21%, while the border region showed the smallest rises, with prices increasing by 5.8%. Apartment prices in the rest of Ireland increased by 16.7% in the same period.

Despite the increases house and apartment prices across the country are still around a fifth below their 2007 peak.

Prices nationally have risen by over 80% since the property market bottomed out in early 2013.