Property Prices Dublin 2015

Dublin based Estate Agent, Property Group Tynan Martin Auctioneers (01 8603365), has said that property prices Dublin 2015 have dipped, although they remain at a high when compared with prices 5 years ago, demand remains high as a new generation of first-time buyers seek out that often elusive property as demand out-stripes the supply of new homes.

House prices have started to climb outside Dublin but fell in the capital between June and September, new developments along the commuter belts such as Ashbourne in Meath have once again seen houses being sold off the plans.

Property prices in Dublin have fallen between 1.2 and 1.4% in the three months between June and September say Dublin based Estate Agent, Property Group Tynan Martin Auctioneers (01 8603365). However, over the past three years property prices in Dublin have remained relatively stable.

One possible cause of the property price drop in some Dublin areas could be the new Central Bank borrowing rules, however, people remain cautious and await any new measures in Budget 2016 which may help first-time buyers.

Rural Ireland is witnessing some price increases of 3-3.5%, however, the reality for places such as Longford and Cavan is that property prices remain well below par with urban centres such as Dublin and Limerick.

A national average asking price can be said to have risen from €164,000 in 2013 to €210,000 in 2015, however, it has to be said that it’s all about Location.

The Institute of Professional Auctioneers and Valuers IPAV: remains critical of the new rules introduced by The Central Bank, when they say;

“In our view the rules were premature and are far too severe,” Pat Davitt, the organisation’s Chief Executive said.

“The rules are forcing young people in the capital in particular who cannot come up with a deposit for a home to remain in rental accommodation or move to the burgeoning suburbs and beyond where they will incur increased transport costs. This is no way to develop as a society, it is indicative of a dysfunctional property market.”

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