DUBLIN: Irish residential property inflation posted its fastest monthly rise in three years in July, as a lack of supply combined with surging demand helped to push prices up 3 percent, data showed on Tuesday.
Annual price growth hit a two-year high of 12.3 percent, up from 7.1 percent a year ago, as prices were also buoyed by an easing of lending rules, a new government subsidy for first-time buyers and continued strong economic growth. Nationally, prices are 28 percent below the peak they hit a decade ago at the height of the property bubble. They have increased 60 percent on average from a 2013 low.
