Irish house prices are continuing to moderate according to the latest Permanent TSB house price index.
The index, which is compiled in association with the ESRI, says prices grew by 0.4 per cent in July, compared with 0.5 per cent in May and June and 2.9 per cent in April. In July of 2001 prices rose by 1 per cent.
Prices have risen by 6 per cent since January, compared to an increase of 5.9 per cent in the same period last year. In the 12 months to July, national house prices were 4.5 per cent higher.
Mr Niall O'Grady of Permanent TSB said: "Following a very buoyant start to the year when house prices growth started strongly there is now a clear trend emerging of a moderation in price increases."
House prices in Dublin rose by 0.5 per cent in July 2002 as did the price of houses bought outside Dublin city. The corresponding growth rates for the month of June 2002 were 2 per cent and -0.3 per cent respectively. For July 2001 the respective growth rates were 0.8 per cent and 1.7 per cent.
The average price paid for a house in Dublin in July was €252,548 while the equivalent price of a house outside Dublin was €169,385. The equivalent prices in July 2001 were €241,484 and €161,868.
