House prices dip in Dublin, up elsewhere
HOUSE prices have fallen in Dublin but risen elsewhere in the country in the past three months, a new report reveals.
In what is only the second fall in three years, prices slipped by 1.4pc in the capital between June and September, according to the latest Daft.ie house price report. This compared with a massive jump of 24.5pc in the third quarter last year.
Outside of Dublin it was a different story, as prices were up 3.9pc.
The Central Bank borrowing limits introduced earlier this year have been cited as the reason for the falls in prices in the capital.
Buyers are being pushed out of the Dublin area, which is inflating prices in the rest of the country.
While prices in the capital dropped between June and September, average prices there over the past year were up 2.4pc to €306,540.
"The latest figures confirm that the Central Bank borrowing rules have had a dramatic impact on house price inflation in the dearest parts of the country," says the report.
In year-on-year terms, house prices are now falling in Dublin 6, Dublin 14 and Dublin 18, while in other expensive markets, such as Dublin 4, Dublin 6W and south Co Dublin they are effectively static.