House prices in the Republic grew by 1.3 per cent in April bringing to 4 per cent the rate of increase for the first four months of the year, according to the Permanent/TSB House Price Index.
This compares with a growth rate of 4.6 per cent for the same period in 2002. The year-on-year increase in national prices to end of April 2003 was 12.7 per cent, according to latest edition of the index.
According to the report, the average price paid for a house nationally in April of this year was €214,146. The equivalent price in April 2002 was €190,023.
House prices in Dublin showed a slower rate of price increase 0.4 per cent in April than the rest of the country. In the 12 months to April, 2003 house prices in Dublin grew by 15.7 per cent.
The average cost for a house in Dublin in April this year was €279,815; the equivalent price for a house outside Dublin was €186,025. The equivalent prices in April 2002 were €241,745 and €169,020, respectively.First-time buyers faced price rises of 2.7 per cent in the month of April 2003 while house prices for second-time buyers increased by a more modest 0.6 per cent.
In the year to April 2003 first-time buyers faced house price rises of 13 per cent while the price paid by second-time buyers rose by 12.5 per cent.
The average price paid by a first-time buyer in April 2003 was €188,081. Second-time buyers paid on average €240,430. This compares with €166,511 and €213,716 respectively in April last year.