House prices begin to lull sli...


House prices begin to lull slightly

RedFM News
RedFM News

08:27 4 Jan 2023

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House price increases are starting to lull slightly, following a surge in demand during the pandemic.

That's according to author of the latest House Price report.

It found cost of buying a house nationally rose by just over 6% in 2022 - down from 8% the year before.

Economist Ronan Lyons says 'supercharged demand' is weakening, even in regions which witnessed major price hikes.

"Earlier in the year, prices in Munster were increasing at 14% year on year and indeed in Connacht, they were almost 20%.

"Both of those markets now have cooled significantly, and they're in line with the national average with increases over the course of the year of about 6 or 7%.

"What that means is that those COVID increases that we saw they're over in terms of dramatic increases over the course of 12  months in 2021 and into 2022."

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