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Sharp Rise In Property Prices...

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Sharp Rise In Property Prices Across The Country

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05:09 15 Sep 2021


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Residential property prices rose at their fastest rate in three years in the year to July.

The Residential Property Price Index increased by 8.6 per cent across the country.

Prices outside the capital rose by 9.1 per cent, while in Dublin they were up 8.1 per cent.

CSO figures show the number of homes purchased by households have returned to pre-pandemic levels.

In the first seven months of 2021 over 24,000 homes were purchased at market prices.

The average median price for a home up to July was €267,000 while the highest median price outside Dublin was 367,000 in Wicklow and €330,000 in Kildare.

Longford had the lowest median price at €120,000.

Within Dublin the highest was €560,000 in Dun Laoghaire Rathdown.

Supply Is Weak

Chief Economist with KBC Bank Ireland, Austin Hughes, says while prices are rising around the world, supply remains a particular problem here in Ireland:

"Its suggests that the property market is really heating up through the summer in Ireland.

"That's reflected in other property markets around the world as well. We're seeing house prices rise as economies reopen and as interest rates remain low.

"But in the case of Ireland obviously its amplified by the fact that supply is so weak."


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