Ireland's June home prices up 6.9 pct year-on-year

DUBLIN, Aug. 12 (Xinhua) -- Home prices in Ireland rose by 6.9 percent in June year-on-year, according to figures released by the country's Central Statistics Office (CSO) on Thursday.

This is the 13th month in a row where home prices in the country had registered a growth after they touched a low in May 2020.

In the capital Dublin, home prices increased by 6.4 percent in June for 11 straight months after they bottomed up in August 2020.

In June, Dublin house and apartment prices increased by 7.4 percent and 2.1 percent respectively, while house and apartment prices outside Dublin rose by 6.8 percent and 15.2 percent respectively.

The Border Region, referring to several counties in north and northwest of Ireland that border with Britain's Northern Ireland, saw a 13.9-percent increase in house prices in June, the biggest rise in the country.

Home prices in Ireland dipped in April and May of 2020 shortly after the government introduced lockdown measures to prevent the spread of the COVID-19 pandemic in the country. But they quickly recovered and embarked on a 13-month-long upward trajectory from June 2020.

By the end of June, home prices in Ireland had increased by 95.4 percent after they hit a nadir in March 2013 following the international financial crisis, while home prices in Dublin had more than doubled from their February 2012 low.

Despite the recovery, home prices in Ireland and Dublin are still 12.3 percent and 17.7 percent lower than their peak levels in 2007, according to the CSO.