The latest Irish housing statistics published this morning show a further acceleration in price inflation in February.
Prices rose by 1.5% month on month (mom) in February, taking the annual rate of growth to 10.7% year on year (yoy). This is the fastest annual inflation rate since May 2015.
Price inflation accelerated across the country with Dublin prices growing by 8.3% yoy (5.7% yoy in January) and by 13.2% yoy outside Dublin (+11.5% yoy in January). Price inflation is fastest in the West (+19.8% yoy).
Nationally, prices remain 31% below the peak levels with houses being 28% below and apartments 40% below.
According to Goodbody Stockbrokers, "Paucity of supply continues to be the major reason for upward price movements, a situation unlikely to be resolved in the short-term."
Source: www.businessworld.ie
