Dublin house prices rise for first time in six years, rest of country sees prices fall again
Asking prices for homes in Dublin have risen for the first time in six years, according to the latest Daft.ie house prices report, while a MyHome.ie report found average Dublin prices fell by 4.8%.
Both studies agree prices have at least stabilised in Dublin.
According to the Daft.ie House Price Report for the first quarter of 2013, prices are up 0.5% on last year, which is the first increase since early 2007.
The report also notes a declining rate of fall in asking prices nationwide to 6.6%, down from 15% a year ago.
Both reports said there were double-digit percentage price falls in several counties, including Kerry, Waterford, Galway, Mayo, Laois, and Leitrim. Prices in Cork city are down 9.8%, and 8.9% in the county.
Daft.ie said asking prices nationally have fallen 6.6% over the past year, while Myhome.ie calculates the decrease at 9.8%. The average asking price for property nationally is now €171,000 according to Daft.ie, almost 55% below the peak of €378,000 during the boom. Myhome.ie puts the average asking price nationally at €197,000.
Economist with Daft.ie Ronan Lyons said the disparity between the Dublin market and the rest of Ireland was growing.
"In south county Dublin, asking prices are now almost 7% higher than a year ago, so it's not (just) stability, it's prices actually rising again," he said.
"What that means is that we're going to see shortages in property in some areas around the country in the coming years, even though there are ghost estates in some other areas of the country."
