Saturday 28 May 2022

Property prices grew by 20% in November, fastest rate since 2000


House prices increased by more than 20% on an annual basis in November, the biggest rise in 20 years.

Statistics agency CBS said the average purchase price reached €400,000, excluding newbuild properties. Prices have gone up by 86% since the bottom of the last crash in July 2013.

The growth rate of 20.1% matched the figure for February 2000, when the average home changed hands for 160,000.

The CBS also recorded a sharp decline in the number of homes being sold, with 16,000 sales recorded in November, 13% fewer than in the same month last year.

In the first 11 months of 2021 there were 205,528 transactions, 2% less than in 2020.

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