Residential property prices in Dublin have increased by 9.4 per cent in the last year, the latest CSO stats have revealed.
In Dublin, house prices increased by 9.8 per cent and apartment prices were up by 7.5 per cent compared to last year. The highest price increases were in south Dublin properties, with the highest median price being €615,000 in Dun Laoghaire-Rathdown.
The most expensive Eircode area over the last 12 months was Blackrock, with a median price of €725,000. Meanwhile, prices outside Dublin rose by nearly 12 per cent.
Read more: Almost €40 million owed to Dublin City Council in social housing rent arrears
A spokesperson for the Department of Housing told Dublin Live that the property price increases are slowing down, and the Housing for All target of 24,600 for this year is expected to be exceeded. A substantial uplift in supply is forecast in the coming years, which will help meet demand, moderate price increases, and help those with ambitions to become homeowners, they added.
The lowest median age for both sole purchasers and joint purchasers in Dublin City was 34, a separate CSO report revealed today. According to the opposition, the government’s housing plan is failing.
Sinn Fein spokesperson on Housing Eoin Ó Broin has said that the newest statistics “will make for depressing reading for those trying to buy a home” and, with interest rates rising, “even more people will be locked out of home ownership”. He said there were not enough affordable homes being delivered.
Instead of focusing on that, or changing its policy with respect to private sector supply, the Government “continues to throw fuel on the fire with controversial demand-side schemes like Help to Buy and Shared Equity Loans”. These schemes, he said, are making the housing crisis worse.
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