House prices nationally rose by 2.5% during the first three months of 2018, according to the latest House Price Report released today by property website, Daft.ie. The average price nationwide was €247,000, 7.3% higher than a year ago. Compared to their lowest point in 2013, prices nationwide have risen by an average of 50% or just over €82,500.
In Mayo, prices in the first three months of 2018 were 3% higher than a year previously, compared to a rise of 11% seen a year ago. The average house price is now €145,000, 31% above its lowest point. In Roscommon prices are up by 4% compared to a year ago, in Sligo 5%, and in Galway County 11%.
In Dublin, prices rose by 2.3% in the first quarter of the year. This means that the average price in the capital is now €145,000 higher than five years previously. In Cork and Galway cities, prices rose only marginally in the first three months of 2018 (by 0.3% and 0.1% respectively) but are now 59% and 70% higher than their 2013 lows.
The number of properties available to buy on the market nationwide continues to fall. There were just over 20,000 properties on the market in March. A significant increase in Dublin listings – up from 2,700 a year ago to 3,500 now, largely offset a fall in availability elsewhere. The number of properties on the market outside Dublin is now at 16,800, down 1,000 on a year ago and the lowest on record, for a series starting in January 2007.