August 14, 2019 / 10:21 AM / 2 months ago

Irish annual house price growth rate slows to fresh 6-year low

DUBLIN, Aug 14 (Reuters) - Annual growth in Irish residential property prices slowed to a fresh six-year low of 2% in May, data from the Central Statistics Office (CSO) showed on Wednesday, but the monthly growth rate increased slightly.

Prices rose 0.4% month-on-month on a national basis in June, the fastest growth rate in nine months. National prices are 18% below the peak hit at the height of a property bubble just over a decade ago.

A sharp recovery in house prices began six years ago and accelerated in 2017 amid tight supply. But price growth lost steam over the past 12 months as prices moved above mortgage lending limits for many workers. (Reporting by Conor Humphries Editing by Peter Graff)

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