Bernard Durkan (Kildare North, Fine Gael)
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154. To ask the Minister for Finance the degree to which he monitors house property prices with a view to prevention of inflation through that sector; and if he will make a statement on the matter. [31116/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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My Department continues to monitor developments in the property market, including trends in property prices, on an ongoing basis. According to the Central Statistics Office's Residential Property Price Index, national property prices increased by 0.7 per cent between March and April, and by 13 per cent on an annual basis. At the regional level, residential property prices in the 12 months to April 2018 increased by 12.5 per cent in Dublin and by 13.6 per cent outside of Dublin. Relative to peak, prices in Dublin are 23 per cent lower, with those outside Dublin some 26 per cent lower.

The Government’s primary response to mitigating house price inflation is to increase supply. ‘Rebuilding Ireland: An Action Plan for Housing and Homelessness’ sets out a comprehensive package of actionable measures designed to address the ongoing structural constraints within the construction sector and restore the housing market to a sustainable equilibrium. The implementation of these actions is monitored on an ongoing basis and reported publicly through quarterly progress reports.