MYHOME.IE PROPERTY REPORT
HOUSE PRICE CHANGES
OCTOBER 2015 REPORT
Going against recent trends and despite many
stories regarding a large demand versus supply gap
pushing up Dublin house prices, new Dublin houses listed for sale on the MyHome.ie website have seen
a price drop of 0.1% in the 3 month period:
July, August and September 2015.
This is the first decline in the counties new listing prices during the last 36 months. By the end of
2015, predictions are that in the Dublin region, the
property price annual price increase will be around the 5% mark.
Across Ireland, property prices underwent an overall average asking price increase of 1.8% during Q3 2015.
The average asking price in relation to those Dublin properties recently placed on the market was
€ 312,000, as opposed to € 270,00 across the rest of Ireland.
These average price increases mask various individual county price increases and drops, with falls occuring in Carlow, Longford, Offaly, Roscommon, Sligo, Waterford & Wicklow.
Compared to new listings, the average asking price is € 205,000 as opposed to the Dublin region where it is € 286,000.
If you look back to this time last year, asking prices for new listings has increased by 6 % across Ireland, compared to the 4.8 % Dublin region increase.
It may that three factors are contributing to these price changes:
In 2015, to the end of July, there were 6,745 house completions and optimistically we may be able to extended that figure to 12,000 to 13,000 new home completions by the end of this year.
Tellingly for the future though, this is only around half of the projected 25,000 new houses thought needed to satisfy housing demand in the Dublin region.