Average house price in Ireland now €311,514 - Daft report

In Dublin, house prices in the third quarter of 2021 were 6 per cent higher than a year previously
Average house price in Ireland now €311,514 - Daft report

The average listed price of a house in Ireland in the third quarter of the year was €311,514, according the latest Daft.ie report.

This is up 0.1 per cent on the average for the second quarter of the year and 16 per cent below the Celtic Tiger peak.

In Dublin, house prices in the third quarter of 2021 were 6 per cent higher than a year previously, compared to a rise of 5 per cent seen a year ago.

The average price of a home in Dublin is now €427,000, 14 per cent below its peak in 2007.

Nationally housing prices were largely stable between June and September.

The number of homes available to buy on September 1st stood at nearly 15,500, up 22 per cent on the same date last year and the highest total nationally in almost two years.

Inflation

Due to increases in recent quarters, year-on-year inflation remains high at 7.7 per cent, although this is down from 9.2 per cent three months ago.

Compared to three months ago, prices were stable in Dublin but rose slightly in the other cities. Cork city prices rose by 0.2 per cent and Limerick prices by 0.3 per cent, while Galway prices rose by 0.5 per cent and Waterford prices by 0.6 per cent between the second and third quarters.

Outside the cities, prices rose in Leinster (by 1.1 per cent) while they fell in both Munster (-0.7 per cent) and Connacht-Ulster (-0.5 per cent).

Despite the quarterly falls in many locations, year-on-year inflation remains positive in each city and county in Ireland – ranging from 5.4 per cent in Meath to 16.8 per cent in Donegal.

Ronan Lyons, economist at Trinity College Dublin, said: “Improved stock on the market over the course of 2022 has helped reduce inflationary pressures in the sales market.

“This is most notably the case in Dublin, where the total number of listings coming on to the market in the year to August was effectively in line with the pre-Covid number.

“This has helped improve the stock on the market at any one point in time, the key predictor of future price changes.”

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