Dublin 'experiencing housing shortage'
Dublin is experiencing a serious housing shortage, according to a new report on Ireland's housing stock.
The research by GeoDirectory, shows that a high population and lack of stock are major factors adding to the capital's urgent housing needs.
Dublin has the highest number of property transactions in the country, with the highest average transaction price of nearly €321,000.
Outside Dublin, the next most expensive place to buy a house is Wicklow, followed by Kildare.
GeoDirectory compiled the data using information from the Property Price Register and the CSO Census between June 2013 and June of this year.
Darragh Keogh, CEO of GeoDirectory, says the turnover rate of the housing market is extremely sluggish.
"When you look across the number of buildings, the national average of the house sales was about 1.4/1.5% of the stock," he said.
"Economists would really expect that to be around 4-5%, so it's still a low level of movement in terms of the number of buildings coming on stream and the number of buildings being bought and sold."
