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ASKING PRICES FOR homes all across the country are up for the first time since the peak of the market almost eight years ago.
In the latest survey from MyHome.ie, the mix adjusted average national asking price was up 1.3% to €190,000 in the second quarter of this year.
In Dublin, the average asking price increased by 4.5%, hitting €255,000. The median asking price, which MyHome.ie said is the better way of estimating the price of a typical house, was up a considerable 7.4% in Dublin.
Changes in median asking prices across the rest of the country can be seen in this chart:
Click here for a larger version of this image
This is the capital’s fifth consecutive quarter of positive growth and the survey said price rises are likely to continue for some time.
The author of the report Caroline Kelleher from DKM Economic Consultants said that while the recovery in national prices was encouraging, the stronger price growth in Dublin means the divergence between the capital and country is continuing to widen.
Supply constraints are clearly a key factor in Dublin and other key markets and these would appear to be driving the current price increases. Given the time lag in addressing supply issues it is likely prices will continue to rise in these areas for some time to come.
Angela Keegan, Managing Director of the property website said it was “heartening” to see asking prices rising nationally for the first time in almost eight years.
“While this is an important landmark on the road to recovery, we are still much closer to the start of that journey then the finish,” she commented. “The average mix-adjusted asking price in Dublin is now 34% higher than the national figure. This is on a par with trends seen at the height of the boom when the difference stood at 35%, albeit prices are at a much lower base.”
She said it is clear that affordability in Dublin is set to deteriorate further over the course of this year and addressing supply issues is key if we are to return to a normal functioning market.
Thank fcuk. I’m sick of standing on it. There must be half a years production of it already in my house.
market ploy to boost sales quick everyone run out and buy lego
bs, just a marketing ploy
Or orders from China, red bricks all the way lol.
Open a Dublin store
I’d probably be broke in a few months.And I’m pushing 40…..
Didn’t Sony say this about one of the Playstations? Made millions
Actually Sony did run out.I was working at Amazon at the time and they couldn’t be got.Sony actually had to make a payout to Amazon to cover the loss of revenue and good will vouchers.It wasn’t even Sonys fault.It was the chip manufacturers.
They are brickin it!
Is this something to do with the new temporary houses the government are planning on building?
Supply + demand basic economics. Lego say supplies may run out so people will panic buy for christmas, sales sky rocket + somehow lego manages to just about have enough stock on the shelves. Just trying to push it as the must have toy for Christmas.
Spokesman Roar Rude Trangbaek – feck the Lego I’m changing my name by deed poll for Christmas.
Must be an anagram there?
I wonder if we will ever have a year when toy or games console manufacturers say they will have enough stock at Christmas to meet demand.
Strategic planning restrictions are needed.
Buy the new toy suitable for all ages, called Arckit , designed by Irish architect David Murtagh, which has won USA Toy Award .can be bought online .
Thanks for the heads up, looks interesting. Box looks like a ream of paper. Put it beside the lego deathstar and see what wins.
sweet baby jesus
Make Lego from recycled plastic, turn rubbish into Lego… Take the rubbish from the enviornment and put it into peoples homes, just joking lol.
I think Lego is great…
Use an old radio and a barbie and turn her into a Borg 7 of 9 or even a Panti after spilled Christmas on her and getting her covered in fluff from the carpet lol.
I mean Christmas drink spilled on her…
I think you might have started early on the “Christmas Drink” Michael…. But it’s all good…
Nah, just previous news story I read and my fingers slower than my brain lol.
No bother, China has loads of Lego clones for everyone at a fraction of the price! I believe the “Enlighten” brand is one of the best quality and can be easily purchased on eBay.
Lego has come a long way since my childhood.
yeah right
have your say