Residential property prices are up almost 7% compared to a year ago

THERE HAS BEEN a 6.9% rise in the price of residential properties in the year to the end of May, according to new figures published by the CSO.

The data shows that the rate of increase is slowing down – prices were up 0.2% last month compared to a 0.3% rise in April and an increase of 0.5% recorded in May of last year.

In Dublin, property prices were 4.8% higher than a year ago and increased by 0.1% in May. Dublin house prices increased by 0.4% in the month and were 5.7% higher compared to a year earlier.