Property prices rising faster in South East as housing crisis deepens

HOUSE prices are rising faster in the South East than almost every other part of the country as Kilkenny continues to suffer from a chronic shortage of housing.

New figures published by the Central Statistics Office (CSO) reveal residential property prices in the South East rose by 10.6% in the year to February.

Only the Mid-West region, which experienced a 14.1% hike, recorded a higher increase in house prices during the same period.

The growth in house prices in the South East is more than double the 4.3% increase recorded nationally.

In the capital, property prices rose by just 1.4% in the year to February, with house prices rising by 1.1% and apartments by 1.8%.

The highest house price growth in Dublin was in South Dublin at 3.1%, while the lowest growth was in Dublin City at 0.9%.

The CSO noted: “Overall, the national index is 18.8% lower than its highest level in 2007. Dublin residential property prices are 22.1% lower than their February 2007 peak, while residential property prices in the rest of Ireland are 22.7% lower than their May 2007 peak.”