COOKIES ON Connaught Telegraph

We use cookies to ensure that we give you the best experience on our website. We also use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Connaught Telegraph website. However, if you would like to, you can change your cookie settings at any time by amending your browser settings.


House prices are going up

Monday, 4th January, 2016 5:37pm

House prices are going up

HOUSE prices nationally rose by an average of 8.5% during 2015, according to the latest House Price Report released today by Ireland’s largest property website,

This national average hides a significant difference between Dublin, where prices rose by just 2.7%, and the rest of the country, where the average increase was 13.1%. The national average asking price in the final quarter of 2015 was €204,000, compared to €188,000 a year ago and €164,000 at its lowest point in early 2013.

In Mayo, prices between October and December 2015 were 6% higher than a year previously, compared to a rise of 3% observed a year ago. The average house price in the county is now €122,000, 10% above its lowest point.

The different trends in Dublin and elsewhere mark a turnaround from 2014, when prices rose by 21% in the capital and by 9% elsewhere. This slowdown in Dublin inflation occurred at a time when inflation in Ireland’s other cities accelerated. Prices rose by an average of 20.7% in Cork in 2015, compared to 14.7% in 2014, and by 19.7% in Galway, compared to 16.3% in 2014.

In Waterford city, inflation has increased significantly to 18.6% from 4.1% a year ago, while the most dramatic change occurred in Limerick city. A year ago, prices in Limerick city were still falling (by 1.3% year-on-year), but in the last 12 months they have risen by 22.3%.

Elsewhere in the country, inflation has accelerated from 8.8% in 2014 to 12.1% in 2015.

Meanwhile, the total stock of properties for sale is now at its lowest point in nearly nine years, with just over 25,000 properties for sale nationwide. A year ago there were nearly 30,000 properties on the market and the bulk of the reduction comes from outside the five main cities.


Post a Comment

blog comments powered by Disqus