Brendan Howlin (Wexford, Labour)
Link to this: Individually | In context

Question 84: To ask the Minister for the Environment, Heritage and Local Government the average increase in the price of a new house and a second hand house in Dublin and the rest of the country during 2004; the anticipated level of increase during 2005; and if he will make a statement on the matter. [11065/05]

Noel Ahern (Dublin North West, Fianna Fail)
Link to this: Individually | In context

Detailed information on house prices is set out in my Department's housing statistics bulletins, copies of which are available in the Oireachtas Library.

The rate of house price increase has generally declined in recent quarters and is now considerably lower than in the late 1990s. The figures for the third quarter of 2004 show this trend continuing with rates of increase well below those in 2003. Final statistics for the last quarter of 2004 are not yet available. My Department does not undertake forecasts of house prices. The consensus among market commentators appears to be that the trend of moderation in prices generally is likely to continue in the current year, even if variations in the overall trend occur in particular segments of the market from time to time. The likelihood of continued moderation is underpinned by the trend of housing output, with 2004 delivering the tenth year of record housing output and indications of a continued high level of output in 2005 and subsequent years.

The Government will continue to promote moderation in house prices through effective policies, including measures to ensure adequate housing supply in keeping with demand in the context of balanced and sustainable growth of the housing market.