House prices rise by 10.8%

House prices are up 10.8% in the year to September.

Latest figures from the CSO show the rate of increase has slowed from 11.9% in the 12 months to August.

Prices in Dublin went up by 9.4%, with an 11.9% increase for the rest of the country.

Mortgage expert Karl Deeter says despite the slowdown in house price growth, these figures are nothing to celebrate:

“This observation of what’s happening in month to month misses the wider picture, which is that house prices are above Celtic Tiger levels, we need to find a way to bring them down, that will be highly unpopular with a lot of people, but there’s no way to get affordability, without an adjustment, or a higher level of supply to match the required demand that’s out there at the moment.”


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