House prices hit new peak, are up almost 9% on May 2023
House prices were almost 9% higher in May, when compared with May 2023, and the month on month rise was 1.1%, according to new figures from national statistics office CBS and the land registry Kadaster.
House prices have now been rising since June 2023 and have reached yet another new record, the CBS said. In May 2024, the average price was up 1.8% on July 2022, the previous peak.
There were also more transactions registered in May – 17,591. That’s a rise of 16.5% on a year ago. In the first five months of this year, almost 78,000 homes changed hands, some 14% up on 2023.
The average price for an existing home is now €445,430, the CBS said.
Estate agents organisation NVM will publish its latest analysis of the housing market on July 4. The NVM figures are based on sales made by its member agents, while the CBS figures represent deals that have been finalised and included in the land registry listings.
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