Showing posts with label daft. Show all posts
Showing posts with label daft. Show all posts

Residential Property Price Index March 2023 - The national Residential Property Price Index increased by 3.9% in the 12 months to March 2023

The Central Statistics Office (CSO) released the Residential Property Price Index for March 2023, which shows that the national residential property index increased by 3.9% compared to 12 months ago. 

The good thing is that the 12 month-increasing rate slowed down in the past months as we can notice from the figure below. But still note that 3.9% increase still indicate the house price is increasing. The prices in Dublin rise by 1.7% and prices outside Dublin are up by 5.7%.


Dublin House Prices

If we delve into more details about the Dublin areas, especially houses, we can see that the house prices in Dublin City decreased a little bit. In contrast, we can also notice that South Dublin house prices are still increasing over 6% each month compared to that of 2022.

 




Available Properties

If we look at the number of available properties on Daft.ie, we can easily notice that the stock level is not increasing during the last couple of months. Normally, there should be some increasing trend during the January and Feburary, and the number should be increasing from May to the end of the year in the past years. 

If we look at the increase of the number of properties during the last year, the trend is obvious. However, the trend seems does not hold anymore and the stock level has been steady for both nationally and Dublin, and it seems like the stock level will not go up as usual. This might in turn give an upper pressure to the prices of properties despite of the increasing mortgage interest rates, particularly in the South Dublin areas. 





Irish property tredns - January 2023

 From CSO (Central Statistics Office) data till December 2022



  • The national Residential Property Price Index (RPPI) increased by 7.8% in the 12 months to December 2022, with prices in Dublin are rising by 6% and prices outside Dublin up by 9.3%.

  • In December 2022, 5,213 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 0.8% compared with the 5,170 purchases in December 2021.

  • The median price of a dwelling purchased in the 12 months to December 2022 was €305,000.

  • The lowest median price for a house in the 12 months to December 2022 was €152,000 in Longford, while the highest median price was €625,000 in DĂșn Laoghaire-Rathdown.


     
  •  The overall trends of residential property price keep increasing,  although the increase rate has been slowing down a little from the previous figure.

 

From Property Price Register data till January 2023


  • 2945 sold properties have been registered for 2023-1
  • This is -55.09% change from last month
  • This is -18.76% change from the same month of last year




 

  • The mean price of sold properties is 345306.9 EURO for 2023-1
  • This is -17.74% change from last month
  • This is 2.96% change from the same month of last year

 

  • The median price of sold properties is 295000.0 EURO for 2023-1
  • This is -1.52% change from last month
  • This is 6.88% change from the same month of last year

 

 The top-5 most expensive sold properties are 

  • 8 MARLBOROUGH RD, GLENAGEARY, DUBLIN (6500000 EURO)
  • GRENAGH, AVOCA AVE, BLACKROCK (5200000 EURO)
  • 12-24 PARK GREEN, COULTER PLACE, DUNDALK (4149289 EURO)
  • HILLSIDE, THE HILL, MALAHIDE (3665500 EURO)
  • 59 MERRION RD, BALLSBRIDGE, DUBLIN 4 (3600000 EURO)

 

From the number of properties available on Daft.ie  we can have an idea about how many properties are available on the market at the moment.

  • The number of properties available for purchase now (~17000) is larger than that one of April last year.
  • It is likely to have more properties from April this year and hopefully towards the level before pandemic.
 
 

  • The ECB interest rate has been increased during the last year several times, and is record high. And it is likely to be increased again, which might hinder the increase of property prices

From the number of mortgage approvals till December 2022 (data from BPFI)

  • A total of 3,635 mortgages were approved in December 2022 – some 1,789 were for FTBs (49.2%) of total volume) while mover purchasers accounted for 798 (22.0%).
  • The number of mortgages approved in December fell by 33.1% month-on-month and by 5.7% year-on-year.
  • Mortgages approved in December 2022 were valued at €996 million – of which FTBs accounted for €485 million (48.7%) and €255 million by mover purchasers (25.6%).
  • The value of mortgage approvals fell by 33.5% month-on-month and 1.5% year-on-year.
  • Year-on-year approval volumes rose by 9.3% to 58,276 while values rose by 17.9% to €15.9 billion.






  • Population in Ireland has been increased a lot, and now it is over 5 million. This causes the shortage of residential properties and the increase of the property price.