Central Statistics Office of Ireland issued a report according to which prices in Dublin rose by 4.2% compared to last year, while prices in the rest of the country increased only by 0.7%. The cost of housing has increased for the first time since the collapse of the market in 2008. It cost Ireland €85 billion, according to ee24.com with reference to The Guardian. Since the beginning of the crisis, prices fell by 50%.
Merrion Stockbrokers chief economist at Alan McQuaid believes that the positive trend in the housing market has a very favorable impact on the country, and everyone should understand that the worst is behind. Since this spring housing prices continued to fall and a sudden rise in prices year on year gives us hope for the best.
However, the increase in prices has been uneven. In Dublin the demand for housing is much stronger than the other cities, so the whole country growth has averaged 0.7%, while in Dublin - 4.2%. The difference between urban and suburban housing is even more striking.