The April edition of the Irish Permanent House Price Index indicates that the rate of increase in national house prices is tending to moderate. For the fourth month in a row, the year on year growth in national house prices has slowed, falling from 19.1% in March to 18.4% in April.
The latest survey, which is compiled in association with the ESRI, says that in the four months to April, national house prices rose by 4%. This compares with a rise of 6.6% over the same period last year. Nationally, house prices rose by 1.2% in April, compared with growth of 1.3% in March.
Dublin house prices rose by 1% last month, down from 2.7% in March. Outside Dublin city and county, house prices rose by 1% in April compared with a 1.3% hike in March.
April saw prices increase by 1% for first time buyers and by 0.5% for trader-uppers. This compares with March increases of 1.8% and 0.8% for first time buyers and second time buyers respectively.
Countrywide, new house prices rose by 1% compared to a 1.2% increase for existing houses. The corresponding increases in March were 0.8% and 1.5%. The average price paid by a first time buyer last month was £125,566, compared with £104,052 in April 2000.
