Residential property prices rose by 1.1% in November

Friday 28 December 2012 22.10
National property prices are down 5.7% compared to this time last year
National property prices are down 5.7% compared to this time last year

Residential property prices increased by 1.1% in November, according to figures from the Central Statistics Office.

Last month’s rise followed a 0.6% decline in October and compare to a 1.5% drop in November 2011 prices.

In the year to November national residential prices fell by 5.7%, compared to an annual rate of decline of 8.1% in October.

In Dublin, property prices rose by 2.4% last month, putting them 3.5% lower than a year ago.

Apartment prices in Dublin are 13% lower than they were in November 2011, while house prices are down 3%.

Across the rest of the country, property prices increased by 0.3% but were 7.2% lower than in November 2011.

Overall, national property prices are 49% lower than they were at their highest level in February 2007. The decline in Dublin is 55%, while prices in the rest of Ireland are down 47% from their peak.