{"id":25624,"date":"2022-03-28T09:37:00","date_gmt":"2022-03-28T13:37:00","guid":{"rendered":"http:\/\/irishexaminerusa.com\/wp\/?p=25624"},"modified":"2022-03-28T10:39:13","modified_gmt":"2022-03-28T14:39:13","slug":"house-prices-rise-2-4-per-cent-this-year","status":"publish","type":"post","link":"https:\/\/irishexaminerusa.com\/wp\/?p=25624","title":{"rendered":"House Prices Rise 2.4 Per Cent This Year"},"content":{"rendered":"\n
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House prices have risen by 2.4 per cent since the year began, according to property website Daft.ie (PA)<\/em><\/figcaption><\/figure>\n\n\n\n

House prices have risen by 2.4 per cent since the year began, according to a report.<\/p>\n\n\n\n

A study by property website Daft.ie<\/a> shows prices continue to go in an upward trajectory across the country, with the average price of a home nationwide now just over \u20ac299,000 in the first quarter of the year \u2013 an 8.4 per cent increase on the same period last year.<\/p>\n\n\n\n

The report shows that the average price nationwide is only 19 per cent below the peak seen in Ireland during the Celtic Tiger.<\/p>\n\n\n\n

Trinity College Dublin economist Ronan Lyons, who authored the report, said: \u201cInflation in housing prices remains stubbornly high \u2013 with Covid-19 disturbing an equilibrium of sorts that had emerged, with prices largely stable in 2019 but increasing since.<\/p>\n\n\n\n

\u201cAs has been the case consistently over the last decade, increasing prices \u2013 initially in Dublin and then elsewhere \u2013 reflects a combination of strong demand and very weak supply.\u201d<\/p>\n\n\n\n

Prices rose in cities across Ireland.<\/p>\n\n\n\n

In Dublin, prices rose by 4 per cent bringing the average price of a house to over \u20ac415,000.<\/p>\n\n\n\n

In Cork, house prices rose by 3.9 per cent to sit at an average of over \u20ac318,000.<\/p>\n\n\n\n

In Waterford, there was an increase of over 9 per cent in prices \u2013 with the average home now selling for nearly \u20ac219,000.<\/p>\n\n\n\n

As of the start of March, the Daft.ie report found only 10,000 homes for sale across the country.<\/p>\n\n\n\n

That figure is significantly below the average in 2019 of 17,500.<\/p>\n\n\n\n

Dr Lyons added: \u201cBoth new and second-hand supply remain weaker than expected before the pandemic.<\/p>\n\n\n\n

\u201cCombined with unexpected strong demand, due to accidental savings during lockdown, this has driven up prices.<\/p>\n\n\n\n

\u201cAdditional supply \u2013 of all types of homes, for sale but also market rental and social rental housing \u2013 remains the only real solution to solving Ireland\u2019s chronic housing shortage.\u201d<\/p>\n

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