The rate of increase of house prices has slowed significantly, the Institute of Professional Auctioneers and Valuers has said.
The institute reported that the average increase in new house prices was less than 8 per cent between January and June of this year, compared to almost 20 per cent for the same period last year. New houses in Dublin went up by 8.4 per cent in the first half of 1999. The average increase in the price of second-hand houses was 8 .3 per cent across the State in the first six months of 1999, and 8.3 per cent in Dublin.
New and second-hand apartment prices went up by an average of 5 per cent and by 7.8 per cent in the capital. Second-hand apartment prices increased by 4.3 per cent in Dublin and by an average of 3.7 per cent across in the State.
The institute also said letting prices had increased on average by 3.1 per cent, but the average increase in Dublin was more than triple the national rate.