House price increased by 7.7% across Ireland; Supply at the lowest since 2006

The house prices across Ireland jumped by 7.7% within a year, finds a new report by the property website Daft.ie. The price surge is higher in rural areas than the city centres, the report also points out.

The website studied house price trends in the country over the past 12 months of 2021 and according to them, the average house price in the country now stands at €290,998. This is €21,446 up from last year’s figure.

The price increase is higher in rural areas such as Connacht-Ulster which is 14.6%. In the area, Leitrim and Mayo showed highest increases; 19.2% and 18.5% respectively.

In Dublin, the increase rate is 3.4% which brings the average house price in the capital to €405,259. Within the capital, South Dublin City showed highest increase- 4.1%.

Among cities, Waterford has highest house price increase rate. The price increased by 7.5% within a year and the average price is €211,023 now. Cork city also showed significant increase of 5.5% and the current average price for a house in the city is €313,436.

The selling of new homes also increased much within a year, where the Daft.ie accounts 5,526 new homes sold through the first nine months of 2021, which is 11% increase compared to same period last year.

Meanwhile the country is facing huge supply issues where the number of homes listed out for sale is all time lower since 2006. According to the report, there were only fewer than 11,500 homes available for sale as of December 1st.

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