The Central Statistics Office writes:
In the year to July, residential property prices at national level increased by 12.3%. This compares with an increase of 11.5% in the year to June and an increase of 7.1% in the twelve months to July 2016.
In Dublin, residential property prices increased by 12.7% in the year to July. Dublin house prices increased 12.6%. Apartments in Dublin increased 12.0% in the same period. The highest house price growth was in Dublin City, at 13.6%. In contrast, the lowest growth was in Fingal, with house prices rising 7.4%.
Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 11.7% higher in the year to July. House prices in the Rest of Ireland increased 11.8% over the period. The West region showed the greatest price growth, with house prices increasing 15.8%. The Mid-West region showed the least price growth, with house prices increasing 8.2%. Apartment prices in the Rest of Ireland increased 13.7% in the same period.
Irish people should not be allowed talk about property or prices of property or selling houses or buying houses.
We obviously can’t be trusted.
I let out an enormous laugh at that and I’m not even ashamed.
That was glorious. And you’re dead right.
Congratulations Ireland, you’ve now achieved an avg Housing Affordability Rating of 4.1, or Seriously Unaffordable.
Dublin joins the list of Severely Unaffordable cities with a rating above 5.1 for the first time in a decade. We’re back!!
Ah yeah but Ted Cruz – twitter …..Hahahaha
We all partied / are partying / will party.
Irish Times take on it includes: “Both reports are likely trigger fresh fears that the market is overheating again.”
Apart from the appalling lack of sub-editing, it seems to imply that we’re not in the middle of a bubble. Prices in Dublin are back at 2005 levels. Nationally, prices have risen 60% in 4 years. They were unsustainable in 2005, doubly so now because wage inflation hasn’t even remotely kept pace. Getting to 2007 prices is not supposed to be a goal, it should be a national embarrassment.
Get ready for the next couple of months when we hear talk of a ‘softening’, and of ‘a short-term adjustment’, before some smart buck comes up with a new phrase ‘soft landing’.
This country is a disgrace.
It seems the smart ballsy guys have done it again
70% of buyers are of the cash variety so irresponsible lending isn’t the issue. The rich getting richer via property speculation is.
I’m not saying it’s irresponsible lending, it’s clearly caused by an artificially restricted supply. If cash buyers wish to throw away money, more fool them. However they create a floor in the market by doing that, meaning that buyers requiring a mortgage are forced into that position. That’s what will drive irresponsible lending/borrowing.
The whole project since the bust has been to return to us to exactly where we were in 2005-2006.
Insanely expensive houses are government policy.
“return to us to exactly where we were in 2005-2006”
Not exactly where we were – wages are lower and taxation is higher.
This is a wet dream for FG.
Its only fair FG got to be in charge of their own criminally mismanaged boom based on speculative house prices, since FF got theirs.
When this one blows up in a year or twos time and details of the systemic corruption and ineptitude emerge people across the country will swear never to vote for FG again…only to go back around to voting for them a decade later.
And wasn’t that a great time for everyone
What the fupp is your PROBLEM>>?
It’s going to be interesting when interest rates go up and the ECB stop quantitative easing, the bubble will burst.
But don’t expect the MSM in ireland to warn you about this, they’re in the business of selling property advertising
Maybe that will never happen
Boom and bust icycles are the inevitable result of capitalism.
“Rather than debating how and how fast to end quantitative easing, the central bank assets generated by this program should be put into a huge fund for education and infrastructure. The interest earned on these assets could finance real public investment, like research, education and retraining.”
No one wants to live in Fingal…..
The great Irish property swindle of 2009 – 2012. The big boys came in, swept up bargain basement property and are now selling off at enormous profits or are raking in outrageously rental profits.
If only I had a few million to spare in 2010, the joys of capitalism baby