Residential Property

According to Irish Independent on June 28 2021, house prices in Dublin have risen by 1,500 euro a week since March 2021. The price of a three-bed semi in the capital rose from 438,500 euro in March to a present rate of 456,667 euro, according to an REA survey.

The startling increases echo the Celtic Tiger-era, with a rise of 4.1% over three months in the second quarter of 2021, compared to an annual increase of 1.4% in the whole of 2020.

The REA said the increases are fuelled by pent-up demand and the return of physical viewings post-lockdown, combined with scarcity of supply and some of the shortest selling times in recent history.

With multiple buyers now competing for a small number of properties, the average three-bed semi now takes an average of just four weeks to reach sale agreed status, compared to a 10-week average this time last year.

Commuter counties saw the largest increases in Q2, as buyers continue to move out further from cities in preparation for long-term remote working situations.

Three-bed semis in commuter counties rose 4.33% by over 11,000 euro in the past three months to an average of 270,111 euro.

The average home is selling in just three weeks, down from a high of 11 weeks a year ago.

The country’s largest rise came in Drogheda where prices increased by 30,000 euro to 250,000 euro in 12 weeks – an increase of 13.5% in the quarter and 19% annually.

Prices References:

  1. Dublin 4: Ballsbridge, Ringsend, Irishtown, Sandymount, Donnybrook, Merrion

Sell price: sold for €1.175m in July2020

Address:9 Holyrood Park in Sandymount, Dublin 4

  1. Dublin 6:Rathgar, Ranelagh, Rathmines, Palmerston, Milltown, Sandford, Dartry,Terenure

Dublin 6w: Terenure, Kimmage, Harold’s Cross, Wainsfort, Templeogue

Sell price:sold for 1.05 in June, 2020

Address:87 Bushy Park Road, Terenure, Dublin 6

  1. Dublin South County:Blackrock, Sandycove, Stillorgan, Killiney, Dalkey, Monkstown, Mount Merrion, Glenageary, Ballybrack

Sell price:sold for €1.25m in October 2020

Address:23 Spencer Villas, Glenageary, in South County Dublin

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