Figures released today show a slight pick-up in the rate of house price growth, with prices for first-time buyers showing particular strength.
The Permanent TSB/ESRI house price index shows that national house prices rose by 1% in August from the previous month. July's rise was 0.9%. The increases in the past two months have been slightly stronger than earlier in the year.
For the first eight months of the year, prices were up 4.4%, compared with 6.8% growth in the same period last year. The annual rate of growth to August was 6.2%, unchanged from July.
The average price paid for a house in August was €265,364.
Prices for first-time buyers rose faster, however, with a rise of 1.9% in the month bringing the increase for the first eight months to 7.6%. Permanent TSB said more first-time buyers were purchasing existing rather than new houses following stamp duty changes introduced in the Budget.
Dublin house prices grew by 0.6%% in August, while prices elsewhere were up 1.1%. The annual rates of increase were 7% and 4.4% respectively.
Prices of new homes were up 0.2% in August, with second-hand prices increasing by 0.2%, bringing annual growth rates to 7% and 6.1% respectively.
