Second-hand property prices continue to drop in Dublin

Updated / Monday, 24 Jun 2019 17:16

2.2% decrease in Dublin prices compared to June 2018

Second-hand property prices in Dublin have decreased by an average of €4,500 in the past three months, a survey has found.

The Real Estate Alliance survey found the average house price for a three-bed semi-detached house in Dublin stands at €433,000 for the second quarter of 2019.

This is a second consecutive quarter fall (-1%) since the end of March and 2.2% decrease compared to June 2018.

The average semi-detached house nationally now costs €236,028, a rise of 0.05% on the Q1 2019 figure of €235,898.

Overall, according to the survey, the average house price across the country rose by 1.54% over the past year - a decrease on the 2.96% recorded to March - and an indication that the market is continuing to steady after an 8% overall annual rise to June 2018.

The report said increased availability of new homes has had a suppressing effect on prices in some commuter areas such as Kildare, north Wicklow and Meath.

Prices in the country's major cities outside Dublin were "relatively static", with no change in Limerick and Galway due to "an increase in supply and new home developments".

Cork city showed a slight rise of 0.8% to €320,000, while Waterford city had a quarterly increase of 2.4%, with tightening supply rising prices to €215,000, up €5,000 from the end of March.