Property prices see slow growth

The prices of apartments are estimated to have increased by 8.62 percent in the first quarter of this year compared to the same time last year, the NSO said today.

The average price of maisonettes went up by 7.11 percent and that of terraced houses by 11.46 percent during the same period.

The figures show that in March 2008 the 12-month moving average inflation calculated through the all property price index was 5.52 percent, the same as in February and only marginally higher than January. The figure was 7.02 in March last year, but it dipped to a low of 2.33 in July. It has since been on a consistent, gradual rise.

However property inflation had been in double figures in all of 2006 except December, peaking at 20.29 in June 2006.