According to the latest Central Statistics Office House Price Index – there was a small rise in house prices in Dublin in May 2011.
It was only a 0.4% rise compared with April – but it’s the first time a rise has been recorded since April 2008.
Before we get too excited – it may only be a blip in the trend and may not be significant – but it’s better than yet another drop.
The CSO House Price Index is based on actual sales that involved mortgages – so cash transactions are not included.
Overall – Ireland as a whole showed a drop of 1.2% in house prices in May 2011 compared to April 2011. Outside Dublin – prices dropped by 2.1% in May .