Average house price in Ireland now €311,514 – Daft report

According to Daft. ie most recent sales report, housing prices were largely stable between June and September.

In the third quarter of this year, the average national listed price was €311,514.

That is a 0.1% gain over the second quarter’s average and a 16% decline from the Celtic Tiger peak.

The lowest average price was in Leitrim, just over €175,000, while the highest average price was in South County Dublin, over €654,000.

However, year-on-year inflation remains high at 7.7%, although this is down from 9.2% three months ago.

In Dublin, house prices in the third quarter of 2021 were 6 percent higher than a year previously, compared to a rise of 5 per cent seen a year ago.

The average price of a home in Dublin is now €427,000, 14 percent below its peak in 2007.

Nationally housing prices were largely stable between June and September.

The number of homes available to buy on September 1st stood at nearly 15,500, up 22 percent on the same date last year and the highest total nationally in almost two years.

Year-over-year inflation is still high due to increases in recent quarters, at 7.7%, although it decreased from 9.2% three months ago.

Prices in Dublin were unchanged from three months prior but marginally increased in the other cities. Between the second and third quarters, prices in Cork city increased by 0.2%, those in Limerick by 0.3%, those in Galway by 0.5%, and those in Waterford by 0.6%.

Outside the cities, prices rose in Leinster (by 1.1 percent) while they fell in both Munster (-0.7 percent) and Connacht-Ulster (-0.5 percent).

Despite the quarterly falls in many locations, year-on-year inflation remains positive in each city and county in Ireland – ranging from 5.4 percent in Meath to 16.8 percent in Donegal.

Ronan Lyons, the economist at Trinity College Dublin, said: “Improved stock on the market over the course of 2022 has helped reduce inflationary pressures in the sales market.

“This is most notably the case in Dublin, where the total number of listings coming on to the market in the year to August was effectively in line with the pre-Covid number.

“This has helped improve the stock on the market at any one point in time, the key predictor of future price changes.”

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