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Irish property price growth slows further in June

Reuters - UK Focus

DUBLIN, July 27 (Reuters) - Irish residential property prices grew by just 0.1 percent month-on-month in June to slow the annual growth rate to its lowest level in more than a year as a sharp recovery from a real estate crash loses momentum.

While prices across Ireland (Other OTC: IRLD - news) are 37 percent below their 2007 peak, the central bank introduced restrictions on mortgage lending in January to try to ensure price rises do not return to unsustainable levels.

Property prices across the country were 10.7 percent higher year-on-year in June versus growth of 16.8 percent three months ago as prices in Dublin fell 0.4 percent compared to May, the fourth monthly fall this year. (Reporting by Padraic Halpin; Editing by Alison Williams)