Housing market Ireland: Property prices surge 11pc, with overall prices increases hitting a 13-year high – Independent.ie

THE cost-of-living crisis has intensified with general prices surging at a rate not seen for more than a decade and property values increasing at double-digit rates.

roperty prices were up 11pc in the year to August, the fastest rate of increase in three years.

And general prices are rising at a rate of 3.7pc, pushed up by energy, fuel and rent hikes.

This is the largest annual change in prices since October 2008 when prices rose by 4pc.

The new figures come after the Budget attempted to put more money in people’s pockets to cope with rocketing prices.

Consumer prices in August increased by 0.5pc in the month.

This is the 11th month in succession that prices have increased when compared to the previous month.

This is the longest consecutive sequence of monthly inflation since 2007, the CSO said

Senior statistician Barra Casey said: “The most significant increase in

Continue reading this atricle at https://www.independent.ie/business/personal-finance/property-prices-surge-11pc-with-overall-prices-increases-hitting-a-13-year-high-40948256.html