Property Group Tynan Martin Auctioneers, Predicts Property Price Increases in 2015
Dublin based Estate Agent, Property Group Tynan Martin Auctioneers (01 8603365), has predicted that property prices will continue to rise in 2015, this will be particularly so in Dublin as demand by a new generation of first-time buyers out-stripes the supply of new homes.
Dublin Property Prices 2015
In 2014 most property price indexes suggested that the price of property rose by 16.3%, with significant growth being identified in the Dublin property market.
The Property Group Tynan Martin Auctioneers, have suggested that under-supply of new properties coming to the market fuelled the property price growth in Dublin, The Property Group Tynan Martin Auctioneers do not see any short term solutions to the lack of supply, and while welcoming new initiatives from NAMA and The Government to stimulate new property availability, such initiatives are unlikely to reach fruition in the short term and this will be a particular problem as the economy begins to show clear signs of recovery.
With many businesses predicting wage increases in 2015, this will lead to even higher demand for mortgages, although Property Group Tynan Martin Auctioneers suggest that this will all depend on the fine print in The Central Banks proposals on mortgage lending.
The Property Group Tynan Martin Auctioneers have suggested that if The Central Bank rules include a 20% deposit clause for first time buyers, then this could have a spin-off for the rental market with potential first-time buyers remaining for longer periods in rented accommodation. As a result the private rented market will continue to increase rents in line with the increases seen in 2014.
The Property Group Tynan Martin Auctioneers, foresee rental inflation in the urban market in 2015, while the supply and demand mismatch for new properties will take some considerable time to be reconciled.
Property Group Tynan Martin Auctioneers
Tynan Martin Auctioneers is a Member Firm of The Irish Auctioneers & Valuers Institute and has expert knowledge of the local property market. Our highly trained personnel who have a combined experience of over thirty five years are there to assist in all matters relating to property sales and lettings.
If you are considering selling or renting your home then contact Martin Tynan MIPAV at our office for a prompt and efficient service (01 8603365).
Keywords: , Dublin Property, Property for sale, mortgage, property rent dublin