Irish house price growth slows to 13% year-on-year in July

Rapid Irish house prices rose at the slowest rate in almost a year in July, climbing 13% year-on-year, compared with 14% in June, Central Statistics Office data showed on Wednesday.

House prices, which snapped back sharply after the COVID-19 pandemic briefly interrupted a period of sustained growth, rose at a faster rate outside Dublin and were up 10.4% year-on-year in the capital compared to 15.2% in the rest of the country.

Prices returned in June to levels not seen since a credit-fuelled peak of 2007 that led to a property crash. Analysts have this time attributed price growth to a dearth of supply rather than an overabundance of credit.