Year-on-year inflation in Dublin fell to 4.3% as higher borrowing costs slows market
Soaring interest rates combined with one of the sharpest cost-of-living squeezes in living memory have curbed demand in the market. Mortgage rates are now near where they were in 2008. Industry professionals believe the mismatch between supply and demand will continue to keep upward pressure on prices this year while others believe higher borrowing costs will eventually lead to a contraction in prices like those seen in other countries.
The Dublin region had the highest median price in the year to January. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price , while South Dublin and Fingal had the lowest . “Looking at the past three months, the most notable slowdown is in houses in Dublin City, where prices are falling at double-digit annualised rate. Apartment prices are also falling , possibly reflecting the recent increase in yields,” he said.
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