Prices of Cork townhouses up 7%

House prices in Cork City continue to climb, rising by 7% last year.

The average price of townhouses is now 274,000 €, 67% above its lowest level during the recession

. from Cork, prices in the second quarter of 2018 were 4% higher than those of a year ago. The average price of homes in Cork County now stands at € 215,000, 50% higher than its lowest point.

House prices in the country now rise on average to € 254,000, up 5.6% from the previous year. In 2013, prices nationwide rose by 54% to just over € 89,000

In Dublin City, the average price of homes was € 374,885, up 6 , 2% compared to the previous year

. Economist at Trinity College Dublin and author of the Daft.ie report on house prices, said: "Ireland's housing market remains a strong demand and a relatively weak supply."

million. Lyons added: "That said, there are signs – especially in the Dublin market – that this new offer is having an effect, with increased market availability and a slowing of inflation.

" While the increase in new homes being built is welcome, it takes mostly housing form

"Almost all new homes needed Mr. Lyons said that house prices will continue to rise in the summer months. coming year as demand outstrips supply, but more moderate price increases are likely.

The number of properties available for purchase in the domestic market has increased in recent months

In Dublin, nearly 4,800 properties were available for purchase in June, almost 50% more than the year before, and outside the capital, nearly 19,000 homes were on the market. June, 2% less than a year ago, but 2 000 more than in March

In each of the other major cities, prices have risen significantly over the past three months. 4.8% in the cities of Limerick and Waterford and 4.3% in Galway

Outside major cities, prices rose 3.2% over the same period, the largest increases in Connacht -Ulster and the weakest in Munster. Martin Clancy of Daft.ie said: "The interest in the real estate market remains extremely strong, we now see more than a thousand property searches are taking place every minute on Daft.ie . "