Irish house prices post fastest growth since 2015

Residential prices around the country jump, according to latest CSO figures

Residential prices around the country jump, according to latest CSO figures

It also runs contrary to the Government's Action Plan For Housing report claims that roughly 15,000 houses were built previous year and 13,000 in 2015.

The figures reveal that more than 180,000 homes are now vacant, while rent in Dublin has soared by 30 per cent. Of this, the number of holiday homes counted was at 244.

Though the vacancy rate in small rural towns is quite high - Blacklion in Cavan having the highest rate where nearly half of all homes are empty.

Of these properties, 1,697,665 were occupied by residents of the state, while there were 183,312 vacant houses and apartments and 62,148 vacant holiday homes.

When examined by age, the results show that renting was more common than owning before age 35. Many of these people are the "hidden homeless"; those thousands of families in Ireland who are living in substandard, overcrowded or unsafe accommodation, unable to move or demand better accommodation because they have no other options. The equivalent age in previous censuses was 32 years in 2011, 28 years in 2006, 27 years in 2002 and 26 years in 1991.

This year's stats have shown that the average weekly rent rose by a whopping 16.8% between the years 2011 and 2016.

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The report also shows that the most significant increases in rent prices were found in: Dublin City (an increase of 30% since 2011).

Nearly 10% of the population in accommodation with less than one room per person: There were 95,013 permanent households with more persons than rooms, at an average of 4.7 persons per household.

That number of vacant dwellings however was down from 3,620 in 2011.

The latest figures from the Central Statistics Office reveal a chronic shortage of supply, a decline in the home ownership rate and a drop in the number of vacant properties.

According to the data released, Longford had 15,092 permanent occupied dwellings in April 2016, compared with 14,410 in April 2011.

Dr Lorcan Sirr, lecturer in housing studies and urban economics at Dublin Institute of Technology, said the figure of 20.8 per cent for the number of people renting wasn't as high as he had expected, given the increase of 176,000 in population.

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