Report shows house prices have risen by 7.5% in the past year
A report has shown house prices have increased in Ireland by 7.5 per cent in the last year.
The latest MyHome.ie report shows the average asking price for house in Ireland is €365,000, an increase of 0.6 per cent on the last quarter.
The average asking price in Dublin is €455,000, while elsewhere it was €315,000.
The last time this annual figure was higher was in Q3 2022, when inflation was 7.8 per cent nationwide.
The report revealed one in seven properties are now selling for 20 per cent over the asking price.
Inflation in asking prices is lower in Dublin at 6.2 per cent year-on-year, but the rate is accelerating to 8.5 per cent outside the capital.
The report also showed Ireland would need to deliver an additional 206,000 homes this year alone to match the UK’s housing to population ratio.
The number of properties listed for sale on MyHome.ie last month was just 13,100, a figure that is well down on pre-pandemic levels of more than 20,000.
The average time to sale agreed…
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