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Dublin home prices on the rise in some areas
February 18, 2013
The price of single family homes has risen in some parts of Dublin but elsewhere the housing market remains depressed, according to the newly released Annual Property Report by the Society of Chartered Surveyors Ireland (SCSI).
According to SCSI there are tentative signs of recovery in the Dublin market. Existing three- and four-bedroom, semi-detached family homes in Dublin rose in value by 2.7% and 1.1% respectively in 2012, compared to declines of 12.6% and 13.65% in 2011. SCSI says that the mortgage interest relief deadline stimulated demand
in the fourth quarter, coupled with a lack of supply of family homes in
Dublin, led to a price rise.
While other Irish markets are not yet seeing growth in values, the new report indicates that the pace of home price declines in rest of the country slowed during 2012—some as much as by half. A three-bedroom semi-detached home price in Leinster fell 7.7% in 2012 compared to a decline of 16.8% in 2011. Similarly, Connacht fell 7.1% compared to the 2011 fall of 15.2%, according to the SCSI report.
The Society published its Annual Property Report 2012 on 6 February 2013 and can be downloaded from the Society’s home page at WorldProperties.com (under the Knowledge, Research and Professional Expertise section).