Average property price in Dublin at €420,000 - report
There has been a 300% increase in the number of homes selling for €1 million or more in the last ten years.
751 were sold in 2019 compared to 186 in 2010, according to a new Residential Buildings Report from GeoDirectory.
The average property price nationwide is now €295,000 with Dublin the highest at €420,000 and Leitrim the lowest at €121,000.
It also highlights a 40% jump in the number of homes under construction compared to 2018 - now standing at 15,000.
However, the number of completed new builds dropped slightly to 20,000.
Dara Keogh, CEO of GeoDirectory, says more and more homes with a high price are being sold each year.
"We were just looking to the high end of the market to see have things changed in the last ten years," said Mr Keogh.
"In that ten years we have come through a recession and back out again and what you can see there is there has been a significant change in the last ten years in the number of properties for a million or more that were sold.
"It has gone up by 300% so that indicates that at the upper end of the market things are relatively booming."
Mr Keogh said the number of homes built last year remains well below the levels needed.
"What we're seeing is an increase an increase in supply, not as high as the long-term average would say we need.
"Most commentators would say about 35,000 and we are reporting here today 20,000.
"But the pipeline is looking quite strong. So during 2020 it looks as though the supply might grow beyond what was achieved in 2019 which is a very positive thing to say."
