Property prices rise 4.3% in the first quarter of 2019

Property prices increased by 4.3% in the first quarter of 2019 according to latest figures of Central Statistic Office (CSO).

In Dublin, Residential property prices are up 1.4% on a yearly basis as house prices rose 1.1% and apartments up by 1.8%

Growth rate is at its lowest ebb since 2013 as the decrease in demand continues in Dublin.

South Dublin made the biggest jump with an increase of 3.1% in the prices and the lowest rate is in Dublin city center with 0.9%

Increases are visible in the all regions yet in the capital, inflation had slowed to 1.4% as a reflection of the weaker mortgage trends. Property prices rose by 7.5% higher with house prices up 7% and apartments 14.7 % outside the capital.

The largest increase was seen in the middle West where prices rose by 14.1%

A Smart Trend: Be close to transportation

Real Estate prices increased 4% in the first quarter of 2019 near light rail public transport.

On average people pay €129.000 more to live close to dart stations and Luas stops. It means 34% more by comparison with an average price (€383.000) for housing in capital.

It is estimated that real estate prices near dart stations and Luas stops will continue to rise. There are two reasons;

Firstly people choose to live near transportation points and the second is ‘investment’. Buyers invest in property close to dart and Luas stations to earn higher rental fees as the value of their investment will grow in the future.

Latest statistics of Central Statistic Office shows property prices have risen 83% nationally from their trough in early 2013.

Property prices have risen up 92.8%  since February 2012, while prices outside Dublin are 77.8% higher than at the trough.

According to experts, speculation surrounding Brexit causes uncertainity in the Real Estate Market and predictions for the future shows prices are expected to increase by an average of 4.2% until the end of 2019.