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House prices rise by more than €50 a day in last year, says Daft

Prices have now risen by almost 47% on average from their lowest point in late 2013, according to Daft.ie
Prices have now risen by almost 47% on average from their lowest point in late 2013, according to Daft.ie

House prices nationally over the last year have risen by more than €50 on average every day, according to the latest House Price Report by property website, Daft.ie.

The national average list price is now almost €241,000, 8.9% higher than a year ago.

According to the report, the average house price in Dublin is just over €354,000 - an increase of almost 10% on last year.

It means that prices have risen by almost 47% on average from their lowest point in late 2013.

The average price of a house in Cork city now stands at over €260,181, a rise of 5.1% on last year, but its lowest rise in over three years.

Galway city saw a rise of over 9.2%, with the average price there standing at over €271,797, while Limerick city rose by 8.6% to €177,771.

Waterford city saw a similar jump, with the average price rising 8.5% to over €159,992.

The report also highlights that the annual rate of inflation in Dublin was 9.9% in the year to September, the second quarter in a row where it exceeds the rate in the rest of the country.

The rate of inflation in Dublin also exceeded the rate seen in each of the four other major cities for the first time since 2014.

The number of properties available to buy on the market nationwide continues to fall, albeit at the slowest rate in over five years.

There were almost 24,000 properties on the market on 1 September, 4% lower than last year.