Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
PROPERTY PRICES IN Dublin city have decreased by an average of €7,500 in the first three months of the year, according to new figures.
The price of a three-bedroom semi-detached house in the city has fallen by 1.7% since the end of December, eliminating the average €7,000 in value that had been added to prices throughout 2018.
The REA Average House Price Survey concentrates on the sale price of Ireland’s typical stock home, a three-bed semi-detached house, and examines the second-hand property market in towns and cities nationwide to the end of last week.
The average price of such a house in the capital’s postcode districts now stands at €437,500.
The average semi-detached house nationally now costs €235,898, a fall of 0.16% on the Q4 2018 figure of €236,287.
Overall, the average house price across the country rose by 2.9% over the past year – a decrease on the 4.6% recorded to December. There was a 9.1% overall annual rise to the end of Q1 in 2018.
Prices also fell slightly by 0.3% in the commuter counties in the last three months, which experienced an annual rise of 2.7%, with the average house now selling for €248,750.
While there were rises in Kildare (up 1.1% to €276,500), prices fell in Wicklow (down 0.7% to €289,000) and Louth (down 3.6% to €202,500).
Prices were static in the country’s major cities outside Dublin with agents in Cork, Galway, Limerick and Waterford all reporting no price movements in the opening quarter, but an annual increase of 3.6% to €252,500.
The highest annual increases (6.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €9,400 in the past year and 1.1% in the past three months to €159,433.
Difficulties in obtaining a mortgage
The time taken to reach sale agreed in Dublin is now eight weeks – double that of a year ago. REA spokesperson Barry McDonald said this “reflects the difficulties that people are experiencing in obtaining a mortgage”.
“We are seeing an appreciable drop in people attaining mortgage approval – particularly for properties above €350,000 – which is creating a ceiling that is stifling the market.
There are essentially two markets – people who have to buy and people who can choose to move.
McDonald said the first set of buyers are purchasing properties under €350,000, but the latter are “either cautious about values and interest rates post-Brexit and are adopting a wait-and-see approach, or cannot secure mortgage approval”.
“There is also no doubt that Brexit is causing uncertainty in the higher end of the market,” he added.
To embed this post, copy the code below on your site
You can get some dodgy fifty euro notes in the south. This is old news, to me anyhow.
You are dead right Paul. You earn the money you decide how to spend it. If I lived closer to the border I would definitely shop north. The biggest reason for higher prices here is “rip off”. And to all the red thumb merchants. B******s.
Dead right, I buy Irish goods from Irish suppliers and English goods from English suppliers. Why should I buy English goods at inflated prices from an Irish middle man? Only exception I make is on the rare occasion when I have bought Irish goods in England cheaper than in Ireland. Now that’s wrong pricing somewhere surely! Source of origin on food labels is misleading and almost impossible to ascertain. For instance a food product can be imported from abroad and repackaged with a local suppliers ID labelling, so the country of origin is lost to the consumer.
Why tell them that? They are worse than the TD’s stealing from the people. People who shop in the north should go live up there and earn their living up there. If they ever need an ambulance , fire brigade, police, etc go and call the services up north as that is what you are doing by shopping up there. If you want to keep the few people who have jobs in work in the south ie your neighbour or family member than stay and pay a little towards their employment. Dare I suggest you reduce your purchases by 10% in the south and everybody would be better off. When I see the fat people from the south pushing trolled in the stores up north I think they could do with a lot less shopping.
I go up north and do some shopping. I did it last weekend actually! I spent 170 euro on beer, and a net book. Everything else was more or less the same price or cheaper down south. But I didn’t go up north to save money ( although I did ) I went up for the day out. I can’t afford holidays anywhere. I stay at my house for my holidays. I work and have practically zero left ( some months less than zero left) each month. I pay way more than my fair share of taxes and I am entitled to spend 175 euro while I am on my ( holidays).
I assume that you holiday at home, buy only Irish products every week?
Don’t judge me, you don’t know me! Besides, I believe in a United Ireland. Our government has cross border trade and governmental institutions set up. If our government says by it’s actions that it is ok then it’s ok by me. And another thing, the majority of the civil construction tenders are awarded by our government departments to northern construction companies because of price, so cop on and grow up.
I use PayPal for everything
Interesting that you judge me – I may be disabled for all you know! Construction workers are loosing jobs to northern contractors you say – I rest my case. When you are directly impacted it is wrong yet when our retailers and producers are impacted it is not a concern to you. It makes the case for the government shopping up north for cheaper contractors. I think it is wrong yet I am on my own on this I think.
We have plenty of fake banknotes down here. They are called “euros”.
Just use a credit card for shopping And pay it off in full, easiet way.
have your say