Ireland property prices up over 6pc

Property prices in Ireland are now over 6 per cent higher than one year ago, according to the Central Statistical Office. CSO figures show that prices jumped 6.1 per cent year-on-year in October 2013, marking a strong improvement from September, when values increased 3.6 per cent annually, and a major turnaround from last year, when prices fell 8.1 per cent annually in October 2012.

House prices grew 1.8 per cent in October compared to September 2013, the same rate of increase that was recorded in the previous month; a sign that the market is starting to find a steady rate of growth.

In Dublin residential property prices grew by 2.3 per cent in October and were 15 per cent higher than a year ago. Nonetheless, the market has a long way to go until full recovery; house prices in the city are 48 per cent below the 2007 peak.