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Dublin house prices expected to rise 8% this year

Property professionals pinpoint lack of supply as the main driver of price growth

Wed, May 10, 2017, 05:49

Eoin Burke-Kennedy (Irish - Times)

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    Property professionals are expecting Dublin house prices to rise by an average of 8 per cent this year.

    A survey of chartered surveyors, auctioneers and estate agents also pinpointed the lack of second-hand homes and new builds as the main driver of price.

    The study, carried out by the Central Bank in conjunction with the Society of Chartered Surveyors Ireland, found expectations for house price growth nationally had moderated from 8 per cent to 7 per cent in the first quarter of 2017. However, it found expectations in Dublin had risen from 6.5 per cent to 8 per cent.

    The survey noted that price expectations over three years have now recovered to levels last seen in late 2014, before the Central Bank introduced its mortgage lending restrictions.

    The median expectation for house price growth over the next three years was put at 15 per cent nationally.

    The figures for Dublin are still lower than at the time of the introduction of the Central Bank’s measures, with expectations for price growth of 8 per cent for the year ahead, while the three-year expectation was also put at 15 per cent.

    In every region the majority of respondents said they expected house prices in their areas would be higher in the next year and over the next three years, while no region anticipates a price decrease over the corresponding time horizons.

     

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We offer clients a full estate agent service including Property and Land Sales by Auction and Private Treaty, Valuations, Property Management, Lettings and Agri-Entitlements . Also Livestock Sales and Valuations for All purposes i.e. Insurance, Probate and Clearance/Reduction Sales.
Contact us at Robert Nixon & Co for a professional and friendly service when buying and selling property in the Meath, Cavan and surrounding areas. Our office is centrally located in Kells, Co. Meath.