House prices increased by 3.3 per cent in the first quarter of the year according to the latest edition of the permanent tsb House Price Index, which was published this afternoon.
This rate of growth compares to 4.0 per cent in the same period in 2003.
According to the index, compiled by permanent tsb in association with the ESRI, the price of houses nationally rose by 1.2 per cent in April, an increase on the rates of growth recorded in February and March but slightly lower than the rate of increase experienced in April of last year.
The index also reveals that over the past 12 months the growth in national prices was 12.9 per cent.
The average price paid for a house nationally in April was €241,692, almost €30,000 more than April 2003.
House prices grew by 13.1 per cent and 13.8 per cent in the 12 months to April 2004 in Dublin and outside Dublin respectively. The equivalent rates to the end of March 2004 were 12.8 per cent and 13.5 per cent respectively.
The average price paid for a house in Dublin was €316,490 while in the rest of the country the average was €211,786.
House prices for first-time buyers increased by 0.4 per cent, while prices rose by 1.5 per cent for second-time buyers in April 2004.
Over the first four months of this year house prices for first-time and second-time buyers have diverged with growth of 2.2 per cent and 3.7 per cent, respectively.
House prices grew by 11.5 per cent and 13.8 per cent year on year to April 2004 for first-time and second-time buyers, respectively.
