House prices rise 'only in Dublin'

A view of Dublin The price increases have caused some fears over a possible new property bubble

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House prices in the Republic of Ireland have increased by 2.8% in the year to August.

Almost all the gains are being driven by the Dublin market where prices are now 11% higher than they were in 2012.

Outside Dublin, prices are almost 3% lower than they were a year ago.

House prices in the Republic are still 49% lower than at their highest level in early 2007.

The inflating and subsequent bursting of a property price bubble was largely responsible for the near collapse of Ireland's banking system in 2008.

NB: This story was amended on 27 September to remove the statement that Irish house prices reached a six year high.

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