Rise in meath property prices

The latest House Price Report released by property website Daft.ie has shown that house prices in Meath rose by 23 per cent in the second quarter of 2015 compared to the same period last year.
In Meath prices between March and June 2015 were 22.8 per cent higher than a year previously compared to a rise of eight per cent seen a year ago.
The average house price in Meath is now €200,000, 33 per cent above its lowest point.
Elsewhere, for the second quarter in a row, growth in house prices in Dublin was significantly slower than elsewhere in the country.
The average increase in Dublin between March and June was just 0.6 per cent. In Cork, prices rose by 4.4 per cent, while in Galway they climbed by 3.8 per cent. Limerick saw a 5.1 per cent increase in prices and in Waterford they grew by 3.4 per cent between March and June. Outside the major cities prices were up 2.8 per cent during the same period.
For the country as a whole, the average asking price for a house in Ireland grew by 1.9 per cent in the second quarter of 2015. This means that in all but one of the last seven quarters, the average price has risen nationwide, although the pace of growth has slowed from an average of five per cent to less than two per cent. The average price nationwide is now €202,000, compared to a low of €164,000 in mid-2013 and a peak of €370,000 in 2007.
Commenting on the figures, author of the Daft.ie Report Ronan Lyons said: “The second quarter of 2015 saw the last of those buying under the old mortgage rules and already the Central Bank regulations about borrowing are having a clear impact not only on overall house price growth but also on the spread of house prices. In each of the five most expensive markets in the country – Dublin 4, Dublin 6, Dublin 6W, Dublin 14 and South County Dublin – average prices currently are more or less unchanged from September 2014, when the Central Bank announced it would be capping mortgages.
“On the other hand, prices in Dublin’s commuter counties have risen by more than 10 per cent in the same nine-month period. A reshuffling of demand from Dublin to elsewhere in the country may help general economic activity outside the capital. Ultimately, however, it does nothing to address the growing supply shortages faced by Dublin’s growing population.”