Dublin property prices falling

Property prices in Dublin have fallen for the first time in seven years, new figures show.

According to the latest data released by the country’s Central Statistics Office, property prices in Ireland’s capital city fell by 0.5 per cent in the year to July 2019. This is the first annual price decrease recorded in Dublin since 2012.

The sharpest decline was in Dún Laoghaire-Rathdown, the most expensive local authority in the city in which to buy property, where prices fell by 6.3 per cent.

The average property price in the Dublin region is currently 366,000 euros, with Dún Laoghaire-Rathdown boasting the highest average at 530,000 euros and Fingal the lowest (337,000 euros).

Although prices in the Irish capital may be decreasing, prices nationwide are still rising. Residential property prices were up by 2.3 per cent nationally, with prices excluding Dublin 4.8 per cent higher in the year to July. The region with the largest rise in house prices was the border area, at 16.1 per cent.

However, average prices are still 17.3 per cent lower than they were at their highest level during the economic boom, with Dublin prices still 21.8 per cent lower than their February 2007 peak.

Article published 13th September 2019