TWO SEPARATE REPORTS into the property market have found that house prices across Ireland are continuing to rise.
The Daft.ie house price report released today found that the average asking price for a house in Ireland is now €177,000 – a figure which is up 3.5 per cent from the same time last year.
It is the first time since 2007 that the average asking price for a house outside Dublin has seen a quarterly increase.
The average asking price is still down 53 per cent from the housing bubble peak. However a lack of supply is continuing to push up prices, particularly in the capital.
House prices in Dublin are now 15 per cent higher than this time last year as prices continue to rise faster than the rest of the country.
The Property Price Register suggests that there were more than 3,800 properties purchased in the last three months of 2013 in Dublin.
Map showing the changes in property prices in each county in the first three months of this year. (Pic: Daft.ie). If you can’t see this image, click here to view it.
“While those based in the capital will understandable focus on rising inflation in property prices, perhaps the more significant development is elsewhere,” said Daft.ie economist Ronan Lyons.
He suggested that it could be “the first indications” of a better match between supply and demand in house prices outside Dublin.
Meanwhile a report from MyHome.ie found that prices in the Dublin market appear to have reached a floor in the final months of 2012, closely followed by the rest of the country bottoming out at the start of 2013.
Note: Daft.ie is part of the Distilled Media Group. Journal Media Ltd has shareholders – Brian and Eamonn Fallon – in common with Distilled Media Group.
Read: Estate agents report ‘mini-boom’ as price increases spread outside Dublin >
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