Dáil Éireann debate -
Thursday, 25 May 2000

Vol. 519 No. 7

Written Answers. - House Prices.

Michael Bell

Question:

27 Mr. Bell asked the Minister for the Environment and Local Government if, further to the recent annual housing statistics bulletin 1999, he will give the average increase in the price of a new house since July 1997; and if he will make a statement on the matter. [14667/00]

Minister of State at the Department of the Environment and Local Government (Mr. Molloy):

Average house prices are compiled on a quarterly basis by my Department. The average price of a new house has increased by 53.2% between the third quarter of 1997 and the final quarter of 1999.

The annual housing statistics bulletin 1999, to which the Deputy refers, indicates a welcome moderating trend in house price increases, indicative of the effectiveness of measures taken by Government to address the issue. My Department's house price statistics for the December quarter of 1999 show an annual price increase of 16% for new houses on a national basis, well below the peak of 26% recorded in 1998 and I believe the package of measures taken, and the further measures which will be taken, will con tinue to have a moderating impact in the level of house prices.