Second hand residential property prices in Dublin increased by an average of 4.8% in the third quarter of this year, according to the latest house price gauge from estate agent Douglas Newman Good.
The average price of a Dublin second-hand residential property now stands at €306,207.
The latest figures indicate a gradual slowdown in the rate of increase after higher rates in the first two quarters. Prices rose by 6.5% in Q1 and 7.1% in Q2. In contrast, prices fell by 2.8% in the third quarter of 2001.
In the year to the end of September, prices have risen by 17%. DNG attributes much of the jump to measures in last year's budget which were seen as attracting investors back to the market.
Economist Paul Murgatroyd says the temporary boost to demand from the budget is gradually tapering off. But he says demand remains robust because of low interest rates and uncertainty in other investment markets.
DNG also says that supply in the second hand market this year has been around 30% lower than last year's levels.
