The latest property report from MyHome.ie found that the median asking price nationally in the second quarter of 2024 was €365,000
Asking prices for homes across Ireland have risen to their highest level in almost two years, new data shows.
Meanwhile, the report found asking prices rose by 5.1 per cent on the quarter nationally - by 3.3 per cent in Dublin and by 6.7 per cent outside the capital. According to Joanne Geary, Managing Director at MyHome.ie, the loosening of mortgage lending rules has seen first-time buyers in particular take on more debt, which has also contributed to rising prices.
The report also found that in May, houses were being sold for 6 per cent over the original asking price, at the median. This is a stark change to 2023, when the median premium was just 1 per cent. “This represents an acceleration in the pace of annual asking price inflation from 6.5 per cent in Q1 2024. Furthermore, the pick-up in the pace of asking price inflation has been broad based across Dublin and the rest of Ireland .”
“The fierce competition between homebuyers has continued into the second quarter, with residential transactions in May being settled by 6 per cent on average above the original asking price,” he said.
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