Mid-West Sees Fastest Growing House Prices In Ireland

House prices in the MidWest are growing faster than anywhere else in the country.

The CSO’s latest release on the Residential Property Price Index finds house prices here are up by nearly a quarter on this time last year.

70 homes were sold in Clare in July of this year, for a total price of 11.3 million euro.

CONTINUE READING BELOW

That works out at an average of just under 162,000 euro.

But instead of using this measure, the Property Price Index calculates house prices relative to values in recent years, and finds that the typical home sold in Clare, Limerick and Tipperary in July of this year was up by 23.7% when compared with the same time last year.

This growth is easily the strongest of any region – the West has seen the next highest level of growth in house prices at 15.3%.

And yet, property prices here still have not reached boom time levels, and currently stands six points behind the base level of June 2005.

These figures also show a continued gap in house prices in West Clare when compared with the rest of the county.

The average price of a home in the area covered by the V15 Kilrush eircode is 126,000 euro, compared with 178,000 euro for the V95 area for Ennis – that covers most of the rest of Clare.