Dublin house prices up almost 15pc

Dublin house prices have risen by almost 15 per cent in the last year, according to new figures from the Central Statistics Office.

The CSO data shows that property prices in Dublin were static in March 2014 but climbed 14.3 per cent in he 12 months from March 2013, far ahead of the nationwide increase of 7.8 per cent year-on-year. That national increase marks a major turnaround from the previous year, when residential real estate values decreased 3 per cent in the 12 months from March 2012.

House prices climbed 0.3 per cent month-on-month. Apartment prices slipped 2 per cent, but have risen 16.6 per cent annually. Nonetheless, the Irish property market still has some way to go until a full-blown recovery: prices in Dublin, for example, are still 48.3 per cent below the peak recorded in February 2007.