More houses coming up for sale - Daft.ie

Tuesday 01 July 2014 12.52
The national average asking price is now €187,000
The national average asking price is now €187,000

Almost 15,000 properties came to market between the three months of April and June, new figures show today.

The latest Daft.ie house report said that more houses came on the market in the last three months than in any previous quarter since 2008.

Daft.ie said that national asking house prices rose by 9% from the same time last year and the average asking price is now €187,000. This compares to €171,000 a year ago and €380,000 at the peak of the market in 2007.

The new research shows that house prices in Dublin have risen by 21% in the last year - consistent with recent figures from the Central Statistics Office.

The surrounding counties of Meath, Kildare, Wicklow and Louth also saw price increases of between 6% and 13%.

Daft.ie also reported increases of 5% and 2% in Galway and Cork respectively. But prices were down 9% in Limerick city, while they decreased by 4% in Waterford.

Ronan Lyons, Daft.ie's economist said that there had been much talk of the housing market being illiquid, with a lack of homes available to buy. But he said the figures from the last three months show that that the tide may be turning. 

"More than 6,000 Dublin homes were listed during the second quarter, the largest number since early 2008. As a result, the total stock sitting on the market rose in Dublin from less than 2,300 in March to more than 2,800 in June," the economist stated. 

But he cautioned that further increases in supply will be needed to work through the backlog in pent-up demand from the years of the crash.