House prices up 1.2% in Q4

House prices rose 1.2% in the final quarter of 2007 compared with the preceding three months, according to figures from estate agents organisation NVM.

The average cost of a house increased 4.3% year-on-year to €247,000, the NVM said. On average, a house was on the market for 78 days in 2007.
The organisation is expecting a 2% rise in house prices this year, saying sales are slowing down due to a shortage of cheaper homes.

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