UNLESS readers have been checking property supplements in the Outer Mongolia national press, hardly anyone will be surprised at news that the rate of house price inflation has slowed for the fourth month in succession, or that the recent series of interest rate rises is making a strong impact on the market. According to the latest permanent TSB/ESRI house price index, prices rose nationally by 0.7% in September, a marked reduction in growth.

However, price growth in Dublin and commuter counties remains strong, with the average paid in the capital inching slowly towards that half-million euro mark ( 419,809). Due to the sensationally high prices achieved in the first half of 2006, the overall rate of growth is likely to be higher than predictions back in January, with a figure of 10.9% compared to 9.3% in 2005. The growth in prices nationally over the last 12 months to September was 15.0% . . . twice that of the equivalent 12 months to September 2005. Buyers paid over 30,000 more, nationally, last month than they would have in the previous December, with the average price now running at 308,179 compared to 277,852 at the end of 2005.

House prices in Dublin, and what is referred to as 'Outside Dublin' in the report, grew by 17.9% and 15.1% in the 12 months to September 2006. The first nine months of this year recorded growth rates of 13.9% and 10.9% in the two areas. On average, prices paid for a house in Dublin, and outside Dublin, by September of this year were 419,809 and 266, 339 respectively. The figure at the start of 2006 would have been 368,576 and 240,201.

Price growth in the commuter counties . . . Louth, Meath, Kildare and Wicklow . . . was 18.3% to September 2006 for the year, over four times the year's rate recorded to the same month in 2005. Buyers in those areas paid up to 40,000 more, with an average of 341,736 in September, compared to 298,866 in December 2005.

In the first-time buyer market there was plenty of activity and again price increases grew by 14.6% on the year to September. Those gaining a foothold in the market paid, on average, 277,617 nationally, up from 249,499 in December 2005.

Analysing the results, Niall O'Grady, head of marketing at permanent TSB, acknowledged that the series of ECB rate increases have tempered the rate of house price growth.

"For the first time this year, there has been a reduction in the past 12-month period of growth rate. Prices, in certain areas . . . Dublin and its commuter counties in particular . . . continue to grow quite strongly. I expect this gradual slow down to continue and price growth nationally to finish the year at 12-13%."

New mortgage service just a click away

FINDING the best value mortgage has become easier, thanks to a new service launched last week by the Irish Mortgage Corporation.

The new service allows first-time buyers and existing homeowners to shop online for the best mortgage deal and offers access to the full product range offered by each of the banks and building societies currently operating in the Irish market.

"This is an exciting new service which will benefit everyone looking for a mortgage, " said Frank Conway director with Irish Mortgage Corporation. "With over 300 different types of mortgages now on offer, finding and comparing the best rates and terms has become more important than ever. This new service offers homeowners and first time buyers access to all rates on offer."

Existing homeowners will be particularly interested in the service as it will allow them to compare the different deals on the market and perhaps switch to a better one.

The new mortgage comparison service is available at www. irishmortgage. ie.