Property prices across Ireland shot up by almost €24,000 last year

The price of a house rose nationwide by almost €24,000 last year.

And there are far fewer vacant properties than previously estimated, a new report has found.

Dublin property prices shot up by €40,000 last year.

The national average house price for the year was €250,188, an increase of €23,739 since last year, according to GeoDirectory, a database based on information from An Post delivery staff working with Ordnance Survey Ireland.

When Dublin is removed from the figures, the national average property price falls to €175,782.

The average residential property price in Dublin now stands at €404,911.

This is €40,628 above the price this time last year.

This is well above the averages for the rest of the country with the next highest average price recorded in Wicklow at €316,057, according to GeoDirectory.

Longford, where the property market has been one of the poorest performers, recorded the lowest average price at €92,084.

The figures also show that the number of vacant properties across the country is far lower than previously estimated.

The report estimated vacant stock of 96,243 in June this year, which is 4.9pc of the total stock.

A database from An Post and Ordnance Survey Ireland, GeoDriectory uses figures from a network of 5,600 An Post delivery staff working with Ordnance Survey.

Figures reported in the Census show double the number of vacant properties, at 183,312 dwellings as of April last year.

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