It’s BOOM time

Prices surge as 17 homes worth more than €1m sold every week

THE boom has returned with up to 17 properties worth more than €1million changing hands every week, it has been revealed.

This is an increase of 13% in the last six months when 15 homes at the same price were sold every seven days.

Foxrock in Dublin is the most expensive market in the country, with the average site valued at €872,000.

The figures from Daft.ie also revealed the number of property millionaires has shot up 9% since June.

Our most expensive street is Eglinton Road in Donnybrook, which has seen five properties change hands for €3.5million or more in the past 18 months.

Unsurprisingly, the capital holds the most expensive markets, with Mount Merrion, Dalkey and Sandycove all averaging more than €800,000.

Outside of Dublin, Enniskerry in Co Wicklow is the dearest, with average property values of €639,000, followed by Delgany at €490,000 and Greystones with €437,000.

In Munster, Kinsale is the most expensive location at €384,000, with Crosshaven at €294,000 and Bandon at €293,000 completing the top three.

In the region of Connacht-ulster, Kinvara at €332,000, Oughterard at €239,000 and Westport at €234,000 occupy the top-priced slots.

The two least-expensive markets are in Roscommon and Donegal respectively, with the average asking price in Ballaghaderreen just €95,000 and Bundoran €103,000.

Ballymote-tubbercurry in Co Sligo stands at €106,000, Castlereagh in Roscommon at €110,000 and Belturbet in Co Cavan at €116,000 rounds off the five cheapest.

Economist at Trinity College Dublin Ronan Lyons, who wrote the Daft.ie wealth report, said: “Unsurprisingly, the country’s housing wealth is concentrated in cities. Urban Dublin makes up less than 1% of the land mass of the country but is home to over 40% of its housing wealth. “The other four cities bring the urban share to roughly half. This is normal and indeed probably less stark than other countries where greater populations drive greater land values in the most desirable locations.” Martin Clancy of Daft.ie added: “Dublin remains the epicentre of the million euro-plus property market. “Dalkey has seen the most expensive sale of 2018 so far with a home there changing hands for €7.8million in May. Outside Dublin, Enniskerry is dearest, with average prices nearly €640,000.” news@irishmirror.ie