Irish residential property prices fell by 0.6% year-on-year for the second successive month in August, data showed on Wednesday but were up 0.3% on a monthly basis as the market shows signs of recovering from COVID-19 disruption.

House prices fell on an annual basis for the first time in seven years in July and the fall in August was led by a 1.6% year-on-year decline in Dublin. Prices had been broadly stable in the year to July, having shot up in the previous five years.

Property websites have reported recently that asking price inflation is accelerating again, while mortgage lending is also returning to normal levels following the COVID-19 lockdown of the economy earlier this year. (Reuters)

Source: www.businessworld.ie