Housing prices nationally rose by an average of 1.8 per cent in the first three months of 2024
Falling interest rates coupled with high rates of construction may bring a decade-long trend of rapidly rising housing prices to an end, it has been claimed.
That is 5.8 per cent higher than in the same period a year earlier and 30 per cent higher than at the onset of the pandemic. Cork city saw prices rise by 7.3 per cent year-on-year, while Galway city saw an increase of 9.4 per cent.Elsewhere, prices in Munster were 10.9 per cent higher and up 6.7 per cent in Connacht-Ulster in early 2024 compared to a year earlier.This is down 24 per cent year-on-year and represents a new all-time low for the series which extends back to January 2007.
“As interest rates peak and then fall, and in particular as sitting homeowners roll of fixed rate mortgages, there should be an improvement in second-hand supply.
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