3 BEDROOM HOUSE PRICE CHANGES
APRIL TO JUNE 2015
This recent MyHome.ie report estimates that cash buyers are still an important part of the Irish property market, exceeding in value conventional mortgage based purchases.
Cash buyers are responsible for over 50 % of residential house sales, purchased both to live in themselves or as buy to let investments.
A recent CSO report, based on mortgage drawdowns only, has stated that overall house prices, (not just the 3 bedroom semi-detached as in the MyHome report), increased by 0.5 % during the month of May 2015.
Nationally, since the MyHome.ie Q1 2015 report, 3 bedroom semi-detached houses have increased in price during the April to June period, by 2.3 % in the Dublin region. and by 1.7 % nationally.
3 BEDROOM HOUSE
|County||Average Asking Price||+/- %||% Change From Peak|
The MyHome.ie report states that the rate of increase in value of this segment of the Irish property market rose at the same rate during the April to June period as an identical period last year.
An average 3 bedroom semi-detached house outside the Dublin City and Greater Dublin suburban area would cost you € 202, 000, as opposed to € 282, 000 within the Dublin region.
The MyHome.ie review for Q2 2015 noted that, although they witnessed the smallest increase in Dublin based asking prices since 2013, there may be an overall improvement in the supply of new houses, (based on an increase in house for sale listings of almost 9.5 % between Q1 and Q2 2015).
A predication of an overall price increase of 10 % for 2015 was made in the report although this is,of course, dependent on the state of the economy by December 2015, the impact of the Central Bank mortgage restrictions and the supply of quality housing stock available throughout the 2015
This summary is based on a recent article in the Irish Times newspaper.