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Prices for homes outside Dublin soar amid new pandemic-prompted working arrangements

The cost of houses and apartments increased by 3% nationally in the year to February, compared to an increase of 2.6% in the year to January and an increase of 1.0% in the twelve months to February 2020.

The CSO Residential Property Price Index for February showed that in Dublin, residential property prices saw an increase of 1.2% in the year to February, while property prices outside Dublin were 4.7% higher. 

House prices outside Dublin were up by 4.3% and apartment prices up by 9.6%. The region that saw the largest rise in house prices was the South East at 6.6%.

Commenting on the data, Pat Davitt, CEO of IPAV, said: “This is attributable to vendors not putting properties on the market because they can only be viewed online and that simply is not working.”

He said the strong increase in prices outside of Dublin also indicates something of a new demand for non-urban properties, arising from new working arrangements emerging from the pandemic.

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