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Property price growth accelerates in Irish capital

Reuters - UK Focus

DUBLIN, May 25 (Reuters) - Property price growth in the Irish capital accelerated in April to its fastest rate in eight months, but property prices in the rest of Ireland (Other OTC: IRLD - news) fell, data showed on Wednesday.

Prices in Dublin led a sharp recovery from a devastating property crash but the rate of growth slowed sharply last year after restrictions on mortgage lending introduced by the country's central bank.

Dublin property prices increased 1.6 percent in April, while properties outside of Dublin fell 0.6 percent in the same period. Property prices across Ireland are on average 33 percent below their 2007 peak. (Reporting by Conor Humphries; Editing by Toby Chopra)