Survey highlights growth in asking prices for houses in Dublin

A survey by property website Daft shows

the sellers’ market in Dublin continues, with asking prices in the third quarter of the year coming in at a quarter higher than the same period last year. A similar picture has been painted by official and unofficial data in recent weeks.

Growth has yet to reach the same proportions outside the capital, however, with asking prices increasing by 7.6 per cent. Nationally, the average asking price for a house over the third quarter rose 14 per cent. The average asking price for a house is €195,000, compared to €170,000 a year ago. Average asking prices peaked at about €380,000 during the boom, so the market has a long way to go to scale the heights of the Celtic tiger bubble era.

For a three-bedroom semi -detached house, average asking prices in Dublin range from €256,000 in north county Dublin to €467,000 in south county Dublin. Similar properties in Galway city are on the market for €146,000 and €158,000 in Cork. In Waterford city, buyers seek on average just €95,000 for a three-bed semi.

Roscommon houses are the cheapest on the market, at an average of €54,000, closely followed by Leitrim (€56,000) and Laois (€58,000).

Asking prices are rising in most parts of the country, but are slipping for three-bedroom homes in Limerick city, down 5.8 per cent; Galway county, down 6.8 per cent; Mayo, down 10.1 per cent; Donegal, down 11.5 per cent and Cavan, down 10.4 per cent.

Homebuyers surveyed for the report said they expected house prices to rise 12 per cent in Dublin and 6 per cent outside the capital. Homes are also selling quickly, the report found, with 60 per cent of properties selling within four months.