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Property prices rise again in June despite pandemic

Property prices rose marginally in the year to June despite the pandemic causing massive disruption to the housing market.

Prices were up by just 0.1pc in June when compared with the same month last year.

House building has been heavily set back by the virus, with estate agents reporting a fall off in viewing activity.

The rise in June compares with an increase of 0.3pc in the year to May, according to the Central Statistics Office.

However, there was a fall of 33pc in the number of homes bought in June compared with the same month last year.

In Dublin, the prices of homes were down 0.7pc in the year to June.

The highest house price growth in Dublin was in Dun Laoghaire-Rathdown at 0.1pc, while South Dublin saw a decline of 2.7pc.

Outside of Dublin prices rose by almost 1pc in the year to June.

The region outside of Dublin that saw the largest rise in house prices was the South-West at 6pc. At the other end of the scale, the South-East saw a 0.7pc decline.

Just 2,268 purchases of dwellings were filed with Revenue in June.

This represents a 33.1pc decrease compared to the 3,391 purchases in June 2019.

But it is up on the 1,937 purchases in May this year.

The total value of transactions filed in June was €650m, the CSO said.

The median, or typical, price paid for a property in the year to June was €260,000.

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