There was a 14.1% n increase in residential property prices in the year to June
That's according to the Banking & Payments Federation Ireland .
While the annual rate of rental inflation was 9.2% in the first quarter, with the national standardised rent level increasing to €1,460.In terms of housing supply, Dublin accounted for around 37% of all completions in the first half the year - the second highest share since 2017.Dublin continues to have the most apartment completions, accounting for about 80%.
Brian Hayes, BPFI chief executive said:"It is important to note that the main driver of the significant increase in average residential property prices in Ireland in recent years has been the lack of supply of new homes as opposed to lending growth, which was observed in mid-2000s. "The latest data from the CSO shows the level of housing output in Q2 2022 is nearly 48% higher than the number of completions in the first half of 2021 and 46% higher than total completions in the same period in 2019, prior to the pandemic."
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