Houses around the country reach record prices with a five bedroom in Dalkey selling for £379,000 while the average price of a house nationwide is at £20,000.
In Dungarvan, County Waterford, Minister for Environment Sylvester Barrett opened a new scheme of 34 houses at Byrneville bringing the total provided to date by Dungarvan District Council to 737 of which 353 have been purchased.
House prices in the capital are reaching record highs with many being bought for their development potential. In Dalkey, £379,000 was paid for Beulah, a five bedroomed detached house in Harbour Road Dalkey. The property, which has investment potential stands on two and three quarter acres and has a private beach. Another house in Terenure yielded £276,000 again for its development potential.
Building Societies say that they have a steady demand for houses in the region of £50,000.
In the last three months of 1978, the average gross price of a house in Dublin was £22,300. The figure was £20,000 around the country.
While most houses being built use imported materials, some houses in Ennis are fully guaranteed Irish with all construction materials manufactured in Ireland. Surprisingly, the cost of constructing such a house is equal to or slightly less than a house constructed using imported materials.
An RTÉ News report broadcast on 18 May 1979.