Killarney

<p>By Ted Healy of DNG&nbsp;TED&nbsp;HEALY</p>
<h3>The Daft.ie house price report for Q3 2021 has just been published and it shows that house prices rose by 1% between June and September this year &#8211; and are now 9.1% higher than a year ago.</h3>
<p>Over the last number of years, property search engine Daft.ie has collected a vast amount of data on the Irish property market. Each year tens of thousands of properties for sale or rent are advertised on the site.</p>
<h3>Some of the key findings of the recent report are:</h3>
<p>* House prices are now 9% higher than a year ago &#8211; which is an increase of €23,954 in only 12 months<br />
* Inflation outside cities is highest, with prices rising by 13%<br />
* The total number of properties available to buy on September 1&nbsp;was just below 12,700, up slightly from levels recorded earlier in the year, but one of the lowest figures recorded since the rise of advertising properties for sale online<br />
* The average price nationwide in the third quarter of 2021 was €287,704, 22% below the Celtic Tiger peak but three quarters above its lowest point in 2012.</p>
<p>The national trend hides regional differences. In Dublin, prices rose by 4.9% in the year to September, the slowest rate of inflation in a year. In the other major cities, prices rose by similar magnitudes – from 3.1% year-on-year in Galway to 8.4% in Limerick city. Outside the main cities, inflation remains significantly higher, with prices rising by an average of 12.9% year-on-year. The largest annual increases were in Mayo and Leitrim, where prices are more than 20% above their level a year ago.</p>
<p>Despite an uptick in listings, the total availability of homes for sale nationwide on September 1 was one third lower than the same date a year earlier and a little over half the amount for sale in September 2019.</p>
<p>Across Munster, listed prices increased by an average of 1.2% between July and September, down from 8.5% in the previous quarter</p>
<p>The jump in prices in Q2 means that prices in Munster are now 13.6% higher than a year previously.<br />
There were just over 3,800 properties on the market in Munster on September 1, down from 5,600 on the same date a year ago.</p>
<p>Reflecting the impact of COVID-19 last year, there were 22% more transactions in Munster in the six months to July 2021 than the same period a year earlier: 6,455 compared to 5,286.</p>
<p>“It appears inflation has eased a bit and there has been a modest improvement in the number of homes available to buy,&#8221;&nbsp;Ted Healy of DNG Ted Healy said.&nbsp;&#8220;However, the underlying issues remain. The stock for sale remains well below pre-COVID-19 levels, while many parts of the country are still seeing prices that are at least 10% higher than a year ago. Additional supply remains key to solving Ireland’s chronic housing shortage. The Government&#8217;s &#8216;Housing for All&#8217; plan contains a welcome boost in social housing activity but rising construction costs, the key determinant of viability, simply must be addressed.&#8221;</p>
<h3>Average list price and year-on-year change – major cities, 2021 Q3</h3>
<p>Dublin City: €399,323 – up 4.9%<br />
Cork City: €307,464 – up 5.8%<br />
Galway City: €316,060 – up 3.1%<br />
Limerick City: €230,585 – up 8.4%<br />
Waterford City: €204,759 – up 6.3%</p>


House prices are 9.1% higher than a year ago

DOWNLOAD AND XPLORE