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House Price Inflation Is Slowi...

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House Price Inflation Is Slowing

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House prices around the country are dropping.

Research from the Real Estate Alliance (REA) has found the rate of increase in second-hand, three-bed semi-detached home prices in Dublin city's postcode zones was just 0.1% over the last three months.

This is compared to 4.1% for the same quarter last year.

The price of a three-bed semi-detached house in Dublin has increased by just 2.7% in the last 12 months.

Source: REA

The REA says after rising by 12.5% in 2017, the average price of a second-hand semi-detached house in the capital has increased by just €5,300 so far this year - and now stands at €443,333.

Prices in the north of the county have risen by 7.5% in the past 12 months, and 0.8% since June to an average of €322,500.

It says: "This is in stark contrast to South County Dublin where prices are static on the quarter and have risen by just 2.4% since last September, with the average three-bed semi selling for €410,000, and the time taken to sell rising from five to six weeks."

Overall, the average house price across the country rose by 5.8% over the past 12 months - a decrease on the 8% recorded to June.

Source: REA

Major cities outside Dublin recorded a combined Q3 rise of 0.8%, with an average three-bed semi costing €249,375.

Both Waterford (+2.5% €205,000) and Galway (+0.9% €275,000) saw increases - while Limerick city (€200,000) returned its first static figure in a number of years.

Cork city also saw 0% growth in the quarter.

The average semi-detached house nationally now costs €234,824 - a rise of 1% on the 2018 figure of €232,441.


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