Dublin house prices up but nationwide average down

Prices off by 54 percent from their 2007 peak

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Figures from the Central Statistics Office (CSO) for November show a 4.2 percent increase in house values for 2012 in Dublin.

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Figures from the Central Statistics Office (CSO) for November show a 4.2 percent increase in house values for 2012 in Dublin.

However, the real estate market in Ireland as a whole continues to suffer, as house prices have reduced in value by 5.7 percent for the year.

While Dublin is on the plus side for 2012, the five year comparison remains jaw-dropping, as house prices are 54 percent below their peak 2007 levels, according to the CSO.

Those owning apartments in Dublin won’t take comfort in the news that their properties have dropped 11 percent in value in 2012.

“The good news has to start at some stage and it does take time to work its way through these [other] indicators,” said a CSO spokesperson.

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