Two separate sets of figures show that second-hand house prices grew strongly in the first three months of this year.
Estate agent Sherry Fitzgerald said the average price of a second-hand home across the country rose by 4% in the first quarter. Prices in Dublin were 5.1% higher in the quarter, bringing the annual growth rate to March to 17.6%.
Meanwhile, Douglas Newman Good's house price gauge also showed that second-hand house prices in Dublin rose by 5% in Q1, giving an annual increase of 14%. Prices rose by just 2% in the final three months of 2004.
Both reports said changes in stamp duty introduced in the Budget had pushed up prices at the lower end of the market, while continuing low interest rates had kept demand strong.
Sherry Fitzgerald economist Marian Finnegan said price inflation was greater in the housing market, with lower growth in apartment prices. She is predicting house price growth of 15% for 2005 as a whole, though growth will be lower in the second half as interest rate rises are expected.
DNG economist Paul Murgatroyd also expects growth to ease as the year goes on, but still expects prices to rise by a 'low double digit' percentage.
