THE cost-of-living has strengthened with general prices rising at a rate not seen for more than a decade and property values growing at double-digit rates.

Property prices rose 11% in the year to August, the fastest rate of increase in three years with general prices rising at a rate of 3.7%, pushed up by energy, fuel and rent hikes.

This is the 11th month in succession that general prices have increased when compared to the previous month.

The CSO said residential property prices increased by 10.9pc nationally in the year to August. Half of this growth came in the latest three months.

It compares to an increase of 8.5pc in the year to July, but property price rises are now back to double-digit rises.

Dublin prices were up by 10.2pc in the year to this August, with prices outside Dublin rising by 11.5pc.

The median, or typical, price paid for a property noationwide is now €270,000.

The Dublin region had the highest median price at €399,999.

The lowest price nationwide price was €124,900 in Leitrim.

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