Ireland's average home prices rose 3.8% in the second quarter of this year, the biggest three-month gain in nearly two years, according to DAFT's latest sales report for the three months from June to June, revealing a nationwide average of € 311,874 in the second quarter of 2022.
This marks an increase of 9.5% on the same time in 2021, which is 16% lower. In the latest report, Daft says the rural-urban gap in housing inflation continues to decline, although the biggest increase is still in rural areas.
The stock of houses has increased slightly, according to the latest report from the property website Daft.ie. It is advisable to look at local seller websites.
As of June 1, the number of homes available for purchase had risen to just 12,400. The report also shows that it was at an all-time low of 10,000 three months ago. Fewer homes are now available in Ireland than they were a year ago, and this is the first time this has happened since mid-2019.
As in 2019, better availability is in Dublin, where sales stock is up 4.5% year-on-year. For the rest of Leinster, the stock is up 10.8%.
Outside cities, housing prices rose 11.4% year-on-year in June, down from 16.8% a year earlier. In Dublin, the year-on-year price change was 6.6%, compared to 3.4% at the end of 2021.
Elsewhere in Cork, prices rose sharply, with Cork rising 9.4% during the same period last year, compared to 11.1% in Limerick. While Galway saw a 13% increase, Waterford home prices rose 13.5%.
The country's housing market has been showing strong demand for the past few years, recently boosted by unexpected savings, but supply has been steadily weakening. Both sides of the market may turn. On the distribution side, the number of listed homes has increased by 30% since the beginning of 2021 over the past 12 months, although this is 15% lower than the 2019 peak. , Construction of new homes is set to reach its highest level this year.
On the demand side, the rise in interest rates, driven by inflation, will lead to timely housing demand. Competition among those active in the housing market has eased again as inflation expected to fall to less than 1 per cent from 5 per cent three months ago next year. Inflation is one of the main drivers of immediate housing demand, so if those who want to buy seem to have more time to choose, they can take advantage of that opportunity.
To get the latest news & information from www.irishindianmirror.com click on the link and follow: Indian in Ireland | Accommodation |
.jpg)
.png)
The opinions posted here do not belong to 🔰www.indiansdaily.com. The author is solely responsible for the opinions.
As per the IT policy of the Central Government, insults against an individual, community, religion or country, defamatory and inflammatory remarks, obscene and vulgar language are punishable offenses. Legal action will be taken for such expressions of opinion.