Houses up more than €155k since 2012 low

HOUSE prices in Dublin have risen more than €155,000 since their lowest levels, according to a report.

The daft.ie house price report for the second quarter of 2018 has found that house prices in the capital have risen 70% since their lowest point in 2012. House prices in Dublin rose by 6.2% in the last 12 months. However, this represents the lowest increase since late 2016. Nationwide, prices continued to grow over the last 12 months, with the exception of Donegal, where the uncertainty surrounding Brexit is having a negative impact on the market.

Prices are expected to continue to rise over the next year but at a lower rate of 5.3% compared to 5.7% a year ago.

‘Yet another quarter of rising prices is to be expected in a market characterised by strong demand but very weak supply of new homes,’ said the report.

It added that due to Ireland’s population growth, urbanisation and falling household size there is a real need for more apartments, which currently only account for 15% of new builds.

The report also found that there has been an increase in the number of available properties in Dublin and nationwide.