House Prices Could Rise By Mor...

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House Prices Could Rise By More Than 5% This Year

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Some experts are warning that house prices could rise by even further than predicted over the coming 12 months.

At the moment, the average price of a home nationwide stands at €266,000.

In Dublin, the average price of a property stands at €375,000.

Research from property website MyHome.ie and Davy expects house prices will increase by 5% in 2019.

They say strong demand and rising incomes are the main factors driving this growth.

But Karl Deeter from Irish Mortgage Brokers says asking prices could grow by more than 5% in 2019.

He says "It wouldn't surprise me if house prices actually rise by more than 5%, because quite often a market will do what you don't expect."

"For instance, if people are saying that rental prices will keep going up - rental prices feed in to house prices because investors are looking for returns".

"If that market starts to drive housing prices you could actually see it go higher than 5%, and it would be quite unexpected".


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