Average Dublin house price now €468,273
Demand for second-hand homes strengthened during the final half of 2005, according to figures released today by leading Auctioneers Douglas Newman Good.
The latest rise in property values means that the average price of a second-hand home in Dublin now stands at €468,273 – up from €448,980 at the end of September.
The average length of time to agree a sale on a property falling to 59 days from 63 days in the first half of 2005.
The Douglas Newman Good House Price Gauge (HPG) reveals that the underlying strength of demand for property continued apace in the second half of the year, with 72% of sales being agreed within 60 days of the property coming onto the market, up from 69% for the first six months of the year.
Second-hand homes across Dublin and surrounding area increased in value by 4.3%, or more than €200 per day, in the final three months of last year, double the rate for the same period 12 months earlier but lower than the 5.7% rise in quarter 3.
The report also reveals that for 2005 as a whole, house price inflation climbed above 21% in Dublin for the first time since 2002 when prices rose by a 21.2%.
