Prop­erty mar­ket on move again

Fingal Independent - - LAND AND PROPERTY GUIDE -

AF­TER many years in the dol­drums, the prop­erty mar­ket is once again on the move and nowhere is this more ev­i­dent than in the north east area.

House prices lo­cally are con­tin­u­ing to rise steadily as de­mand in­creases and more and more house­holds are squeezed out of the ex­tremely com­pet­i­tive Dublin mar­ket.

The lat­est Daft re­port shows that house prices in County Louth have risen by al­most 17% com­pared to the same time last year and in north county Dublin prices are up 13%.

Na­tion­ally, there has also been a sharp in­crease in prices around the coun­try with the na­tional av­er­age list price in June 8.8% higher than in De­cem­ber. To put that in per­spec­tive, prices rose by 8% in the whole of 2016 - and by 8.5% in 2015. If the first half of 2017 is any­thing to go by, price in­creases are likely to match or ex­ceed those in 2014, when they rose by 14%.

That year, it was Dublin that drove those trends, with prices in Dublin ris­ing by 21% dur­ing 2014, com­pared to 9% else­where in the coun­try. And it seems as though the same pat­tern is re-emerg­ing in the 2017 mar­ket.

As the north east is pop­u­lar with com­muters given the ex­cel­lent road, rail and bus links, the area has seen a grow­ing de­mand, not only from the lo­cal pop­u­la­tion but also from those mov­ing fur­ther afield. The av­er­age ask­ing price for a four bed­room semi-de­tached home in County Louth is €225,000 while in Dublin the fig­ure stands at €440,000 and in Meath the av­er­age price for a four bed semi-d is €250,000. Prop­erty prices are show­ing no signs of slow­ing down, with the lat­est fig­ures in­di­cat­ing that price growth ac­cel­er­ated in June, with prices now grow­ing at a rate of 11.6 per cent on an an­nual ba­sis.

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