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RESIDENTIAL PROPERTY PRICES across Ireland have risen by 14.8% in the 12 months up to January this year, latest figures from the Central Statistics Office (CSO) show.
Prices in Dublin increased by 13.3% and prices outside Dublin rose by 16%.
The median price nationally of a home bought in the 12 months up to January this year was €280,000.
The lowest median property price in this time period was €130,000 in Longford. The highest median price was €595,000 in Dún Laoghaire-Rathdown.
The region outside Dublin that saw the biggest price increase was the border area where prices increased by 24.7%.
The mid-west had the lowest rise of 13.8%.
The number of home purchases at market prices filed with Revenue increased by 0.9% between January 2021 and 2022. The number rose from 3,484 in the first month of last year to 3,517 in January this year.
Just over 17% of home purchases filed with Revenue were new builds. Around 82% were existing dwellings.
We’ll all be property rich, and broke trying to heat them.
I think there should be much greater price transparency. The minimum price a seller would be willing to let the house go for showed be advertised then legitimate bids should be published buy the seller/auctioneer. Prospective buyers should not have to go by the word of an auctioneer who’s interest is in jacking up the price of a bid, even by lying in order for you to bid against yourself. Auctioneers who are proved to falsify bids should be fined
@Michael Dowd: I wouldn’t blame the estate agents. They get c.1% of the sale. So a house going for an extra 15k would only be worth €150 to them. It wouldn’t be worth their reputation to mess around for such a small gain. They would rather the sale closed quicker as they get paid quicker.
Any time you feel like the agent is trying to push up the price it is probably because they know they need to hit a minimum amount that the owner needs/wants to move
@Keith Crowe: Estate agents can fees can be up to 3% and if a seller has them telling them they can get an extra €15-€20k, of course the seller will hold out for it. Some people are delusional of how much their home is worth. It’s definitely in an estate agents interested to sell at the highest possible price and if they can bend the rules and benefit in the process they will. They played a massive part in the last property boom and they are playing a massive part in this boom too.
@Keith Crowe: either way it’s the same and the previous comment still stands. There should be more transparency and fines to stop estate agents trying to appease the sellers expectations.
Have to look at selling agents, stories rife again of a repeat of celtic tiger of people bidding against themselves.
@Disco Inferno: there’s no way of knowin what they’re at. I bought a house and was bidding against someone, but sure they couldn’t prove it and didn’t have to. Like everything in ireland, it’s an unregulated industry and we’re left to their mercy. No government protections at all. Customers not citizens. We’re only living here in order to make and give money to every big business in every sector.
Athy has gone to average 200k you know it’s going crazy when u see that
Agree. Just feel like I’m working to pay the government that waste it.
They should also make all offers binding, so if you make an offer they agent should only be able to advise the seller of it once you’ve signed it.
@Name Goes Here: Binding on who? As a vendor, there can be many reasons why you may need to stop the sale. Even more so, for a prospective purchaser. The binding document is called a contract for sale.
have your say