Irish Times – May 25th 2016
The average cost of buying a home in the Republic climbed by 7.1 per cent in the 12 months to the end of April, according to figures from the Central Statistics Office (CSO) – although increases over the last 12 months are significantly lower than 12 months ago. The market in Dublin has rebounded with an increase of 1.6 per cent recorded last month
A shortage of homes on the market is driving prices higher, in spite of the Central Bank lending restrictions and the end of tax breaks. Across Dublin there is a strong demand for homes in good condition. Older homes that may require additional funds for renovation work are taking longer to sell as potential buyers have no surplus cash due to the restraints of the Central Bank rule.
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