herald

Wednesday 7 December 2016

House prices and tourism on the rise

house prices
house prices

Dublin house prices are one-fifth higher than this time last year, official figures have revealed.

Residential property prices in the capital have shot up by 20.2pc in the last 12 months, according to new data from the Central Statistics Office (CSO).

In April alone, the prices of houses in the county rose by 1pc, while there was no change in the cost of apartments.

The Dublin figures reflected a country-wide increase in residential property prices, with the CSO recording a rise of 0.6pc nationally in April, meaning homes outside of Dublin are now 15.8pc higher than at the same time last year.

While property values have continued to rise in spite of lending restrictions introduced by the Central Bank in January, Dublin residential prices are still 36.3pc lower than their peak at the height of the boom in 2007.

At a national level, home prices are 37.8pc lower than eight years ago.

Meanwhile, the CSO also revealed that 2015 has been a good year for tourism in Ireland so far.

According to new data from the organisation, Ireland welcomed 13.5pc more tourists from overseas in the last three months compared with the same time last year.

Visitor numbers rose to an impressive 1,778,600 between February and April.

encouraging

The numbers of American tourists coming to Irish shores rose by over a fifth compared with last year's figure, while there was also an increase of European visitors by close to 15pc.

Responding to the news, Minister for Tourism Paschal Donohoe said that the figures were "encouraging" for Ireland.

"This is further good news for the tourism sector," he said.

"As we enter the peak months for tourism, it is very encouraging that the growth trend witnessed in recent years is continuing in 2015 with a very strong performance for the first four months of the year."

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