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THE AVERAGE ASKING price of a newly listed property in Dublin is recorded as €366,000 according to property website MyHome.ie’s latest property price report.
That represents an increase of €39,000 compared to this time last year.
The mix-adjusted price on newly listed properties in Dublin rose by 1.6% in the third quarter of this year, and is up 11.8% compared to last year. Nationally, prices rose by 0.4% compared to the last quarter, and are up 8.9% year-on-year.
For all properties listed as for sale on the website, prices rose 1.7% in Dublin and 1.6% nationally. The national mix adjusted asking price is now €228,000, while in Dublin it’s €319,000.
Although the rate at which prices are increasing has slowed, the growth in property prices is now predicted to continue into 2018.
The author of the report, Conall MacCoille, Chief Economist at Davy, explained that prediction.
“There are a number of reasons why house prices are rising so strongly; these include the lack of supply, the economic recovery and the fact household incomes are now rising by 2-3% per annum.
However the key factor driving house prices higher has been the mortgage market. The average loan drawn down by first time buyers in the last quarter was up 9.4% in the year to €200,000 from €183,000 in mid 2016.
“This has meant that leverage on new mortgage loans has increased and with ever more desperate buyers seeking larger loans as they compete for the few properties listed for sale, this trend is set to continue and to ensure inflation remains at double digit level.”
In the latest report from Daft.ie, published yesterday, house prices across the country were recorded as rising by more than €50 a day.
You can read the MyHome.ie report on Q3 property increases here.
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You would think after all the wars and bloddy conflict we have had over last 120 years, this either would have been sorted out by now or governments would be terrified of the cost in lives or money, one big peeing contest.
@Valentine Kane: where have u been living, europe and the world is more at peace since ww2 than any period in history… war is part of our history and unfortunately our future. Its the type of war thats its the trouble…
Russia has had a huge win without needing to fire a shot. America has accepted Russia’s ‘ Red Lines’. Ukraine will not be joining NATO (which will do what America tells it to do) and has been instructed by the US to engage with the Minsk II Accords in order to resolve the Donbass issue.
So it is,
Russia 1. Neo Cons 0.
@Des Hanrahan: I must have missed that press release. Oh yeah, you just made it up.
@Eoin Roche: Everything I stated is correct . If you had bothered to do even cursory research you would know that .
My mistake it’s Ukraine is not in NATO apologies, time for another coffee I think
I’m confused this article states that the US was a founding member of NATO but later says the US is not a member of NATO, which is it?
Ukraine will not be allowed join NATO as it will put them at the doorstep of Russia. Unfortunate location they find themselves in.
Better brush up on my russian ,Ich bin EIN Berliner ,i think I’ll be starting from scratch ha
The weather in the next 4 weeks will be critical in determining an invasion – hopefully, it won’t freeze over and open a window for the perkies to attack
have your say