THE NUMBER OF homes changing hands in Ireland is on the up, increasing 3.6% since last year according to new analysis of the Property Price Register from MyHome.ie.
In the first half of the year, 24,448 properties were sold with the value of these transactions totalling €7.11 billion.
This means the average price of houses sold in Ireland so far this year is around €290,000.
In 16 counties, the number of sales rose with nine counties seeing the number and fall and one remaining unchanged.
The amount of money spent was up in all but three counties – Louth, Monaghan and Clare.
In Dublin, the number of sales was up 8% on last year. The capital accounts for a third of the overall property market with 8,187 sales.
The value of Dublin sales, however, has increased far more as it’s up 26% to €3.8 billion.
Cork came next in terms of sales with 2,532, following by Kildare (1,250), Galway (1,094), Meath (1,056) and Limerick (901).
The county with the lowest amount of sales was Monaghan, with just 162 so far this year.
In the first half of this year, there were 335 sales of €1 million or over. The biggest one-off property sale was Inniscorrig, Coliemore Road in Dalkey in May for €7.8 million.
MyHome.ie expects the number of sales overall this year to rise 9% to 60,000.
Angela Keegan, managing director MyHome.ie, said that Ireland is still short of a “normal functioning market” but is moving in the right direction.
“While the rise in sales in the commuter belt was a big part of the story in the first six months of last year, it’s interesting to see the counties recording the biggest percentage increase in sales this year include Carlow (18.5%), Roscommon (14.6%), Laois (13.5%), Waterford (11.8%) and Donegal (9%),” she said.
Not surprisingly some of these counties also feature prominently in the list of counties where the value of sales rose the most. This trend probably reflects the fact that the recovery is spreading to other parts of the country while it also indicates some people may be moving out beyond the commuter belt due to affordability issues.
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