Dublin house sales rises ‘have slowed’

Numbers of homes sold fell in eight areas in 2018

THE number of houses sold in Dublin rose by 5.9% last year.

Some of the biggest rises in sales were in areas such as Clonsilla, Ashtown, Firhouse and Tallaght while the number of sales fell in eight areas around the capital.

Property website myhome.ie yesterday released an analysis of the Property Price Register for 2018, which showed there were 18,523 house sales last year, up from 17,491 in Dublin.

Managing director of myhome.ie, Angela Keegan, said that while there had been increases in the number of sales, the rate of increase is slowing.

‘In 2017, the number of sales fell in just four postcodes. Last year this figure was eight,’ she said. Ms Keegan also said: ‘Against that, the value of sales is up by almost 18%, with the rising number of new developments contributing to the increase. ‘For the second year in a row, Dublin 15, which encompasses much of Fingal in north Dublin, had the largest number sales with 1,706 properties sold.

Sales in Co. Dublin rose from 4,669 to 5,319, an increase of 14%. Lucan in west Dublin led the way on 681 sales, followed by Swords on 579 and Dún Laoghaire on 544. The amount of money spent on all houses in Dublin in 2018 also went up dramatically by 17.7% to a total of €8.7billion.

The Dublin 9, 22 and 10 postcode areas saw the biggest rises over the year with increases of 42%, 27%, and 22% respectively.

The area with the biggest drop in sales was Dublin 20, with a sales drop of 40.4% in 2018 compared to the year before.

However, myhome.ie is warning about urban sprawl, which it says is increasing at an ‘alarming rate’ and could put pressure on public transportation.

Ms Keegan said: ‘It is positive to see new developments coming to the market. However, the downside is the city is sprawling out beyond the M50 at an alarming rate and that raises questions around public transport policy, commute times and the kind of city we want to live in.’

Ms Keegan also said: ‘Areas such as Dublin 9, 22, and 10, which have the biggest increases in sales are now proving popular due to their proximity to the city. While these areas might not always have been in demand, their location and proximity to the city are making them increasingly attractive.’

She said building higher in parts of the city should be looked at and there should be incentives to build in other towns and cities which haven’t enjoyed economic recovery. ronan.smyth@dailymail.ie