Dublin property prices have jumped by a quarter over the past year, according to data in in a new report. Data from property website Myhome.ie and the Property Price Register has found that prices in the capital rose by 25 per cent over the year to the end of September.
“Estate agent stated that only offers in excess of €192,000 would be considered for this cottage, however the property price register shows that it actually sold for €170,000. Myhome screen shot (top) is from 05/06/2014, the property listing has since been deleted.”
[Top: A new graph published by the Central Statistics Office today detailing property prices in Ireland between February 2005 and February 2013 and, above, a screebgrab from a table showing the percentage price change in properties in Dublin in January and February 2014]
The CSO found:
In Dublin residential property prices fell by 0.6% in February and were 13.3% higher than a year ago. Dublin house prices fell by 0.6% in the month and were 13.6% higher compared to a year earlier. Dublin apartment prices were 10.5% higher when compared with the same month of 2013. The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 0.9% in February compared with a decrease of 2.1% in February of last year. Prices were 4.2% higher than in February 2013.
Mark Sugrue writes:
“According to the CSO, Dublin house prices have fallen 2.1% since the start of 2014, bringing prices back to where they were in September 2013. Although the Dublin Meeja will claim the opposite. Doesn’t the Irish Times own myhome.ie?”
House prices in Northern Ireland have shown an increase across the board for the first time since 2007, according to a new report. The NI Residential Property Price Index indicates that residential property prices rose by 2% between the first and second quarter of the year. All property types have increased in value. This is the first time since the second quarter of 2007 that all property types have shown an increase.
(Property Sales in the first six months of 2012 and 2013, media coverage of today’s Daft report and a stock photo of a ‘spinning’ top)
Or boom-hungry DECEPTION!?
What Goes Up writes:
The Daft Report on asking prices got coverage today in media outlets – with them all parroting the line that prices in Dublin were up but prices in the rest of the country were down.
However, if you look at the figures in The Property Prices Register of actual sales for the first six months of 2012 versus the first six months of 2013 the numbers are the exact reverse – with a tiny increase in the number of sales nationally and a fall in the number of sales in Dublin. Inception Or Deception?