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Daft.ie

Dublin apartment prices are up 35% in a year, but the house market is finally starting to cool

Most of buyers’ ‘mattress money’ that was built up during the boom years is gone.

DUBLIN APARTMENT PRICES went up 35% over the last two months, but price rises for houses in the capital may finally be starting to slow down.

The September residential property index, released today by the Central Statistics Office (CSO), showed property prices across the country went rose another 1.8% last month.

Propery prices are now up 15% over the past 12 months with big increases in Dublin driving much of the growth.

Apartment prices in the capital are up over 35% for the past year, while house prices increased 22.6% during the same period.

Outside Dublin, house prices have gone up 7.3% since the same month in 2013.

House Prices CSO CSO

But the CSO noted overall prices in the city were still nearly 38% off their peaks from early 2007 and Dublin apartments were over 44% below their highest going rates.

The yearly increase in Dublin house prices was the lowest annual figure since May.

The start of a ‘new phase’?

Real estate firm Savills Ireland said slowing growth in Dublin house prices could be the start of a new phase during which the market started to cool off, while Davy Research analysts agreed price inflation could be close to its peak.

Savills research director John McCarthy said the overall growth rate was still high but there were several factors working to slow prices rises down.

He said there were fewer cash sales because boom-time “mattress money” had been spent and tighter lending rules would also put the brakes on demand.

Property 1 Family homes, like this one in Blackrock, have been in particularly high demand Daft.ie Daft.ie

The Central Bank is introducing new rules next year on the amount people can borrow, which will generally be capped at 3.5 times their annual earnings and 80% of the total property value.

“The proposed lending restrictions will undoubtedly impact on affordability and this is likely to drive buyers further afield in the search of affordable properties,” McCarthy said.

Prices have started to pick up outside Dublin and Savills said these rises would continue if homebuyers were locked out of the capital’s market because of the lending caps.

The average Dublin homebuyer would need a deposit of €70,000 under the rules and this could potentially put a limit on prices despite chronic shortages of property in the city.

READ: Number of properties on the market ‘at lowest level’ since 2007? >

READ: New figures showing surge in house prices welcomed by the Government >

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15 Comments
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    Mute thomas molloy
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    Nov 19th 2024, 8:28 AM

    It is complex but the easiest way to see that Musk is good for free speech is to note the blanket left wing media attack on him.

    89
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    Mute Ger Whelan
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    Nov 19th 2024, 8:38 AM

    @thomas molloy: Nobody is trying to take free speech from anyone. You need to learn the obvious difference between free speech and the deliberate spread of misinformation,

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    Mute damien leen
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    Nov 19th 2024, 8:43 AM

    @Ger Whelan: sorry no, cant have restrictions on freedom of speech, it’s kinda the point…and who decides wat is disinformation, you, in your opinion!

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    Mute another one? what's going on is the semi state sec
    Favourite another one? what's going on is the semi state sec
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    Nov 19th 2024, 8:44 AM

    @thomas molloy: A yes. The man who suspended the accounts of people critical of him. Is that really a champion of free speech?!?!….. FYI account suspension has tripled since he took over.
    https://fortune.com/2024/09/25/twitter-x-account-suspensions-triple-transparency-report-elon-musk/

    51
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    Mute damien leen
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    Nov 19th 2024, 8:50 AM

    @another one? what’s going on is the semi state sec: speaking about freedom of speech more broadly than just Elon Musk and his platform, admittedly it is part of it but not all encompassing.

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    Mute Iano C
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    Nov 19th 2024, 8:51 AM

    @thomas molloy: Ur waaayyyy to gullible…lol

    16
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    Mute Seosamh Ohuaine
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    Nov 19th 2024, 8:53 AM

    @Ger Whelan: It’s opinions Ger. If people want to say clouds are made from marshmallow they can say that. It’s up to the individual to figure out what’s nonsense and what’s not. Sure they say that 2 genders is misinformation. But for me it’s basic biology

    35
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    Mute thomas molloy
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    Nov 19th 2024, 8:55 AM

    @another one? what’s going on is the semi state sec: And he reinstated accounts that had been suspended by the one sided people he had to replace.

    18
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    Mute Ger Whelan
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    Nov 19th 2024, 8:58 AM

    @damien leen: really no restrictions at all on free speech?. So it’s ok to threaten people? Okay to verbally abuse people? Etc. there has always been restrictions on free speech just people like you are too ignorant to realise that

    24
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    Mute Brian
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    Nov 19th 2024, 8:58 AM

    @thomas molloy: Another day another media rant from Tommy.. who somehow thinks that a man who owns one of the world’s largest social media platforms and contributed 200m to his campaign to gain a position in office is somehow a good thing lol. You still haven’t told me all these reputable news sources you get your information from ?

    24
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    Mute Cflood
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    Nov 19th 2024, 9:00 AM

    @thomas molloy: and how would you respond to his self serving , ivory tower ,narcissism ? By praising it ? He’s a slightly more intelligent Andrew Tate with much more sinister goals

    22
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    Mute Brendan O'Brien
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    Nov 19th 2024, 9:05 AM

    @Seosamh Ohuaine: ‘Clouds are made from marshmallow’ is (generally) harmless. Outright lies about immigrants, for example, which put people in danger, are not harmless. You know this.

    22
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    Mute damien leen
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    Nov 19th 2024, 9:08 AM

    @Ger Whelan: oh slinging insults, the very thing you are advocating against. Now now we’ll have you arrested for saying such things…You do know how ridiculous you have just made yourself look but hey, you’re entitled to, thats the beauty of freedom of speech. Have a nice day genius!

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    Mute Paul M Doe
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    Nov 19th 2024, 9:10 AM

    Musk is an absolute legend

    15
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    Mute Brendan O'Brien
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    Nov 19th 2024, 9:11 AM

    @damien leen: He is not advocating against ‘slinging insults’. Try reading his comment again.

    14
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    Mute Ger Whelan
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    Nov 19th 2024, 9:12 AM

    @damien leen: no its not slinging insults. It’s pointing out a statement of fact. You and people like you choose to be ignorant of the fact free speech has always had restrictions.

    19
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    Mute Gearoid MacEachaidh
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    Nov 19th 2024, 9:18 AM

    @thomas molloy: free speech as long as the speech is not critical of him. He has barred 100s of accounts that have been.

    16
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    Mute Gearoid MacEachaidh
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    Nov 19th 2024, 9:22 AM

    @damien leen: disinformation is not a matter of opinion, it’s a matter of fact. Are kids getting sex changes at school? No. That was a lie started by Trump and spread by Musk. Did Trump win the election in 2020? No again a lie started by Trump and promoted by Musk. I could continue all day. There is no such thing as a matter of opinion when it comes to disinformation. Facts are facts.

    24
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    Mute Gearoid MacEachaidh
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    Nov 19th 2024, 9:25 AM

    @thomas molloy: he reinstated accounts that had breached the Ts and Cs of the previous regime. Those rules were in place before they broke them. Now twitter is full of hate speech, porn bots, child abuse imagary. You OK with CP in the name of “free speech”?

    14
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    Mute damien leen
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    Nov 19th 2024, 9:26 AM

    @Ger Whelan: you’re a bit all over the map here lad, misinformation, threatening people, fact that there’s restrictions on freedom of speech…listen, you seem to be struggling a bit here, it’s ok, you might not be that clever, nothing wrong with that, just go and have a rest for yourself and you let me k ow when you’re ready again ok.

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    Mute Paul M Doe
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    Nov 19th 2024, 9:33 AM

    @Brendan O’Brien: thankfully the illegals will be rounded up and deported :)

    6
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    Mute Brendan O'Brien
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    Nov 19th 2024, 9:33 AM

    @damien leen: You’re the one that’s struggling following your ‘cant have restrictions on freedom of speech’, which has been shown to be nonsense.

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    Mute Paul M Doe
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    Nov 19th 2024, 9:37 AM

    @Brendan O’Brien: are you looking forward to the trump deportations, I know I am :)

    6
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    Mute Seosamh Ohuaine
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    Nov 19th 2024, 9:44 AM

    @Brendan O’Brien: Outright lies like “we will never go into government with fg” or ” it’s immoral to tax a person’s home”. It’s up to the individual to see through the BS. There are lies about immigrants. But lies being told from both sides.

    10
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    Mute Ger Whelan
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    Nov 19th 2024, 9:52 AM

    @damien leen: I’ll ask you one question Damien. See if you have the balls to answer it. Does freedom of speech come with restrictions yes/no?.

    7
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    Mute Kevin Kerr
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    Nov 19th 2024, 9:55 AM

    @Seosamh Ohuaine: the first one relates to a future event, so Martin can just say that he changed his mind given the changed circumstances. The second is an opinion, nothing to do with misinformation. You need to understand the difference between fact and opinion

    7
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    Mute Brendan O'Brien
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    Nov 19th 2024, 10:00 AM

    @Seosamh Ohuaine: False promises are damaging too, but they’re not quite in the same category.

    5
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    Mute Setanta O'Toole
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    Nov 19th 2024, 10:02 AM

    @damien leen: people who are able to distinguish between what’s factually correct and what isn’t. There isn’t much ambiguity with a lot of stuff posted on X.

    4
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    Mute Ger Whelan
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    Nov 19th 2024, 10:06 AM

    @Seosamh Ohuaine: big difference saying we’ll never go into government with FG, and then changing that stance when the circumstances in which you said it changed, then saying something like, for example “like the democrats tried to have Trump taken out twice”. The first one was a persons opinion on the future. The second is deliberately spreading misinformation on a past event with no evidence to back it up. See the difference

    10
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    Mute Ted Daly
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    Nov 19th 2024, 10:50 AM

    @thomas molloy: he doesn’t give a dam about free speech. But he’s fooled the foolish into thinking he does.

    9
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    Mute Seosamh Ohuaine
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    Nov 19th 2024, 11:10 AM

    @Kevin Kerr: And this is why freedom of speech is so important. I take what he said as lies and blatant disinformation to hood wink people into voting for him. And you don’t. Mm wouldn’t le straight in bed

    6
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    Mute Seosamh Ohuaine
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    Nov 19th 2024, 11:12 AM

    @Brendan O’Brien: I disagree. I see it as blatant lies to get elected. But the beauty of free speech. We both get to say what we like

    6
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    Mute Seosamh Ohuaine
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    Nov 19th 2024, 11:13 AM

    @Ger Whelan: Was there not 2 attempt s on trump. This is true. Now who put them up to it is debatable. what mm said was blatant lies to get elected.

    6
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    Mute Ger Whelan
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    Nov 19th 2024, 11:40 AM

    @Seosamh Ohuaine: well you’ll need to talk to the likes of Trumpet, Paul m doe and buster lawless etc, all who regularly post that the democrats tried to take trump out TWICE. they have no proof of the democrats being involved in the attempts but they’ll constantly post about it. They are deliberately misrepresenting about something that has happened to suit their agenda..

    6
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    Mute SerotoninWars
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    Nov 19th 2024, 11:52 AM

    @thomas molloy:

    ‘the easiest way to see that Musk is good for free speech is to note the blanket left wing media attack on him’

    A complete non-sequitur. This makes no sense and is the kind of naff ‘common sense’ banality that only resonates with people who don’t think about things too deeply. It’s perfectly possible that people are criticising Musk because he’s a snivelling hypocrite. The free speech warrior thing doesn’t even stack up. Musk is a classic case of misinformation masquerading as free speech. It’s emotive and sounds worthy until you dig in and see how selective it is. It’s a political weapon and he has proven himself willing to roll back on his cherished beliefs as soon as he doesn’t like the ‘free speech’ coming his way. The identification and borderline worship of dodgy billionaires and tech overlords is dystopian sci-fi novel 101.

    8
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    Mute Daniel Skelton
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    Nov 19th 2024, 11:56 AM

    @thomas molloy: There’s free speech, then there’s just outright spreading misinformation.

    6
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    Mute alan dunne
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    Nov 19th 2024, 12:20 PM

    @Cflood: comparing Must to Tate, do you read your comment before posting, really get out of that echo chamber you are in !

    3
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    Mute alan dunne
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    Nov 19th 2024, 12:24 PM

    @SerotoninWars: it’s not worship to recognise the fact twitter was a left leaning (very left) in its biasses
    Musk addresses this with community notes etc

    Hunter Biden laptop info suppression prior to musk buying is all the proof you should need

    3
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    Mute Nick Vasilakis
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    Nov 19th 2024, 12:45 PM

    @damien leen: So for you, it’s acceptable to call for people to be murdered, in public.
    Nice man.

    1
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    Mute SerotoninWars
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    Nov 19th 2024, 12:49 PM

    @alan dunne: This a myth and a lie that has been repeated by some highly manipulative people with an agenda. Unfortunately they are highly aware that if you repeat a lie often enough, for many, it will become a dominant cultural myth.

    There is no evidence whatsoever that it was left-leaning. If you are referring to certain posts being removed, it was due to a violation of the terms. Lie and spread dangerous falsehoods and yes, you might have fallen foul of the T&C’s.

    Check the Barrett & Sims report. Detailed, fact backed, and a proper brain cleanse for anyone who has bought into these myths.

    4
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    Mute Kevin Kerr
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    Nov 19th 2024, 1:09 PM

    @Seosamh Ohuaine: your interpretation, or opinion, is that it was blatant lie. Personally, I haven’t said what my opinion on the matter is, except to say that what he said does not constitute misinformation

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    Mute FoxyBoiiYT
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    Nov 19th 2024, 1:47 PM

    @damien leen: OK I think I’ll start a rumour that you’re a paedo and see how much you support my free speech then?

    3
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    Mute Jack Dermody
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    Nov 19th 2024, 1:50 PM

    @thomas molloy:
    Musk censors on his own platform and uses algorithms to push his agenda…
    Musk is a busted flush on free speech… He wants free speech if you are saying what he likes…

    3
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    Mute Jack Dermody
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    Nov 19th 2024, 1:55 PM

    @damien leen:
    Free Speech involves responsibility…

    If I sat outside your house and accused you wrongful of crimes and then claimed I am exercising my free speech rights.
    Where are your rights to living with out fear or intimidation?
    https://www.latimes.com/business/story/2022-11-14/elon-musk-toxic-boss-timeline
    Why is it rich and powerful people want more freedom to say what they like about anyone from their elevated positions?

    3
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    Mute Paul M Doe
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    Nov 19th 2024, 9:11 AM

    Trump and Musk are the two greatest men on the planet. We are blessed to have them :)

    39
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    Mute Brendan O'Brien
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    Nov 19th 2024, 9:16 AM

    @Paul M Doe: Another long day’s trolling ahead, Stephen?

    41
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    Mute Paul M Doe
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    Nov 19th 2024, 9:37 AM

    @Brendan O’Brien: have you stopped crying yet lol

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    Mute Karen Marten
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    Nov 19th 2024, 9:59 AM

    @Brendan O’Brien: I’d love to know how paul m Doe moves from one account to another all day on all the posts . He even uses two of them on one post to pat him self on the back for his comments he Is an attention seeker the less replies he gets the more chance he will soon get bored

    12
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    Mute SerotoninWars
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    Nov 19th 2024, 12:08 PM

    @Karen Marten: I think that ship has sailed! This is their entire life! All day every day. It might end up being a lifesaver though. In the style of those American news pieces where someone ordered the same McDonald’s for 20 years and staff raised the alarm when it went quiet one day! If it suddenly goes very quiet on the juggernaut, Trump is god, Musk is an angel front, it’s time to sound the alarm!

    4
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    Mute cora galloway
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    Nov 19th 2024, 2:44 PM

    @Paul M Doe: is that a joke must be

    1
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    Mute Jim bob
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    Nov 19th 2024, 8:42 AM

    Any chance theyight put trump on it

    39
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    Mute Setanta O'Toole
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    Nov 19th 2024, 10:09 AM

    @Jim bob: probably couldn’t take off then.

    22
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    Mute Jacintha Dumbrell
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    Nov 19th 2024, 9:43 AM

    This is what George Orwell warned of in his novels, two capitalist billionaires running the most powerful country in the world, dystopian stuff.

    27
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    Mute FlipBip
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    Nov 19th 2024, 9:58 AM

    @Jacintha Dumbrell: Capitalism is better than socialism.

    18
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    Mute Barry Doyle
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    Nov 19th 2024, 12:29 PM

    @Jacintha Dumbrell: he warned us about the dangers of totalising socialism.

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    Mute Todd Hebert
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    Nov 19th 2024, 1:23 PM

    @FlipBip: No, it’s decidedly NOT. Are you planning on collecting the state pension on retirement? Do you ever go to public hospitals? Do you pay full price for medications, or do you use the drugs payment scheme? Do your kids exclusively go to private schools that receive zero state funding?

    3
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    Mute Ethan Gannon
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    Nov 19th 2024, 8:30 AM

    Hang on! Elon Musk isn’t the imbecile that all the woke Journal commentators portray him to be? Shocker!

    58
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    Mute Iano C
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    Nov 19th 2024, 8:52 AM

    @Ethan Gannon: Do u get paid per “woke”?

    33
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    Mute Ethan Gannon
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    Nov 20th 2024, 12:33 AM

    @Iano C: ask your ma

    2
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    Mute Setanta O'Toole
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    Nov 19th 2024, 10:03 AM

    They’d never strap the two of em to the side of it, would they?

    20
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    Mute Ed Brennan
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    Nov 19th 2024, 9:52 AM

    Starship, powered by “liberals” tears.

    20
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    Mute Setanta O'Toole
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    Nov 19th 2024, 10:05 AM

    @Ed Brennan: and the small penii energy of conservatives.

    12
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    Mute Noelyj
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    Nov 19th 2024, 8:44 AM

    I could be wrong but I think the US President-elect is Musk’s puppet

    25
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    Mute James King
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    Nov 19th 2024, 10:53 AM

    I’ll be honest. The engineers at space x are amazing. They have performed the impossible.

    Blue sky is also amazing. Find it in app store.

    9
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    Mute terriogorman
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    Nov 19th 2024, 10:47 AM

    Maybe Trump should take a trip!

    9
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    Mute Fidelma Clarke
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    Nov 19th 2024, 8:59 AM

    Arse

    12
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    Mute Joanne Healy
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    Nov 19th 2024, 11:59 AM

    The poison twins!

    8
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    Mute Andy Preneur
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    Nov 19th 2024, 9:14 AM

    Progress shouldn’t be hindered by naysayers

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    Mute FoxyBoiiYT
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    Nov 19th 2024, 1:45 PM

    Hopefully it blows up and takes them with it. Win Win

    5
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    Mute Paul O'Mahoney
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    Nov 19th 2024, 1:32 PM

    I respect Musk for spacex and the way he invests in some spectacular innovations, saw Starlink drift overhead a few nights ago, but his interference in the election was not what democracy needs. It will be interesting to see how he gets on in the White House …….Trump less said about that gowl the better.

    3
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