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House inflation figures released. 03/08/2005 Figures released today suggest that house prices grew by 2.5% in the first half of this year compared with 4.7% in the same period last year.But the survey also shows that the average price paid by first time buyers grew by 4.2% in the period as they bought more second hand homes.The survey does suggest that the market is showing continued moderation. At ERA Ireland we believe that house price inflation is somewhat higher than this. Our offices reported a very brisk trade at the beginning of the year with some record prices being achieved.   The rate of house price inflation is increasing. 30/06/2005 A survey released today suggests that the average price of a second-hand property in Ireland rose by 8.5% during the first half of 2005. This is slightly above our own estimates but there is clear evidence that the first half of 2005 has shown stronger than expected house price inflation. Rising house prices are being fuelled mainly by the continued strength of the economy (and hence high employment), the continually low interest rates and demographic driven demand (a large portion of the population is in the 20 – 40 year old bracket). Other factors include the amendments in the rate of stamp duty in the recent Budget (with first time buyers now purchasing in excess of 40% of second-hand properties), the growing population (and positive migration figures) and the expectation of further price growth in both the short and medium terms. It now looks like we may see double-digit house price inflation in 2005.