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General News / June 27, 2022

The average house price is almost ten per cent more expensive than last year

Image: Unsplash
General News / June 27, 2022

The average house price is almost ten per cent more expensive than last year

Words: Ellen Kenny

The latest Daft.ie Sales Report shows that housing in this country is, well, daft. 

The average housing price nationwide rose by 9.5 per cent in the last year according to the report. 

Housing prices rose by 3.8 per cent in the March to June period of 2022, the largest increase over a three-month period in two years. 

The rural-urban gap in housing inflation continues to narrow as rural areas are still seeing the largest increases. I don’t think this is the kind of equality people were asking for.

In Dublin, the increase in prices was 6.6 per cent, compared to a 3.4 per cent increase at the end of 2021. The average price of a house in Dublin is now €429,384.

Prices were 11.1 per cent higher in the four cities outside Dublin. Waterford city saw the biggest increase among cities at 13.5 per cent making average housing prices €226,635. 

Outside of Dublin and other cities, rural housing prices are up by 11.4 per cent.

Dublin 4 and Dublin 17 were the only areas in Ireland that saw decreases in housing prices. Of course, a four-bed bungalow in D4 is still €1.1million, but take your victories when you can. 

The smallest increase in housing prices in the second quarter was in Dublin 8 at 1.9 per cent, while the largest increase was in Donegal at 19.1 per cent. Finally beating the Dubs!

The total number of properties available to buy on June 1st was just 12,404, up slightly from the same period last year. Most properties will most likely stay on the market if the prices continue to rise.

I’m no economics expert, but how can there be supply and demand, and yet there are still nearly 10,000 homeless people in Ireland?

Elsewhere on District: What do the Census 2022 results mean for you?