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Ireland's home prices continue to grow in April despite pandemic

Xinhua News,DUBLIN
2020-06-18 01:12

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DUBLIN, June 17 (Xinhua) -- Ireland's home prices continued to grow in April despite the COVID-19 pandemic, showed the figures released by the country's Central Statistics Office (CSO) on Wednesday.

In April, the average home prices in the country inched up by 0.5 percent when compared with the same month of last year while home prices in the country's capital Dublin dipped by 0.1 percent over a year ago.

Nevertheless, the growth rates of home prices in the country had showed a descending tendency in the past three months, indicating a gradual impact of the pandemic on the country's residential property market.

In February, Ireland's home prices went up by 1 percent over a year ago; by March, the year-on-year growth rate dropped to 0.9 percent; in April, the growth rate further fell to 0.5 percent.

The average home prices in Ireland and Dublin had increased by 82.6 percent and 91.7 percent respectively from their lowest levels recorded in early 2013 and early 2012, said the CSO.

Nevertheless, they are still 18.1 percent and 22.6 percent lower than their highest levels in 2007 respectively, it said.

Ireland reported its first confirmed case of COVID-19 at the very end of February. Nearly one month later, the country announced nationwide lockdown measures, which were not eased until mid-May.

Ireland intends to scrap all the restrictive measures in four phases with each lasting three weeks.
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