Property values rise 5%: 'Prices are only going to go one way'

Property prices are"only going one way" after they rose nationally by 5.4% in the 12 months up to January, data from the CSO has revealed.

In January, the median property in Dublin cost €445,000, whereas nationwide the figure stood at €330,000.the gap is narrowing between prices in the capital and the rest of the country“Prices are moving on outside of Dublin because a lot of prices are still well behind 2006 ,” he said. “I was talking to an agent in Clare recently and he tells me that house prices there have gone up by as much as 15%.”Mr Davitt said he believes the trend of ever-increasing house prices “doesn’t look like it’s going to reverse anytime soon”.

“We need to increase the supply but small builders in the country who are building and have built houses for many years in Ireland, they’re not to be seen,” he said.

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