Exciting news for homeowners and prospective buyers! Asking prices for homes in Ireland have experienced a significant 3.1% increase between July and September, reaching an average of €344,848. This surge marks a 6.2% growth compared to last year and a remarkable 33% rise since the beginning of the pandemic.
The limited supply of second-hand homes continues to be a driving force behind escalating prices, with only 11,900 properties available nationwide as of September 1st. This shortage has led to a competitive market, particularly in Dublin where prices have soared by 4.1% in just three months, the largest increase since 2017.
While demand remains high, the need for more homes across the country is evident. Economist Ronan Lyons from Trinity College Dublin highlights the necessity for increased construction to address the housing deficit effectively. With prices rising across the nation, the housing market in Ireland presents both challenges and opportunities for buyers and sellers alike.
