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Dublin bucks trend for rising house prices

House prices across the country continue to rise except in Dublin where values are dropping slightly, latest figures show.

The average cost of buying a home rose almost 7% last year.

The rise was much slower than the previous year when prices nationally soared by more than 16%.

But the overall figure is skewed by property prices catching up in areas outside the capital.

Last month, house prices in Dublin dipped for the second month in a row, down by 0.5%.

However, prices remain higher than last year.

Dublin apartments rose in value by almost 8% over the year, but the Central Statistics Office has urged caution on the figure, as it is based on a low number of transactions.

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Outside the capital, property prices rose by 1.2% in December, making them more than a 10th higher than at the end of the previous year.

Overall, house prices throughout the state remain more than a third cheaper than at the height of the property boom in 2007.

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