House prices on the up – except in the Capital

THE housing market is in recovery, even though prices fell again in Dublin last month.

That is the opinion of experts who believe that the property market is finally at the bottom.

Prices nationally rose by 0.5pc in August, the largest increase since just before the economic collapse in 2007.

However prices in Dublin continue to fall overall, although estate agents insist prices have risen by as much as 4pc since March in some areas.

Last month was the second in a row for house values to increase, according to the latest CSO figures, which are based on mortgage draw-downs.

More accurate figures are expected within days, when the new property register is published by the Property Services Regulatory Authority. This will give the sale price and location of every home sold since January 2010.

Economists say it is too early to conclude house prices will keep rising, but most agree that they have stopped falling.      Evening Herald