Falling House Prices in Dublin

According to the Irish Independent, housing prices in Dublin on average are decreasing by just over €1,000 per month. However, property prices in the rest of the state are continuing to rise slowly or remain constant.

Property prices have been determined to have decreased on average of €4,500 in the past quarter of the year. Since the beginning of 2019, property prices in Dublin have fallen by 2.2%. The price of an average home in Dublin is now down to €433,000.

Although the average cost of housing in the capital has decreased, Dublin remains one of the most expensive cities to live in Ireland. On average, properties in the capital cost two to four times more than property in the rest of Ireland. This data was reported from the Irish Independent and the Real Estate Alliance (REA) Average House.

South Dublin has seen the steepest decline in overall average home values. In three months, property prices of South Dublin have fallen by  €6,500. Although progress has been shown in the prices of homes in Dublin, prices are still rising in other counties. Prices of …

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House prices are on the move!

Sherry FitzGerald said yesterday that property prices fell 4.5% in the second quarter of the year having fallen 1.9% in the first quarter. The results to the 12 months to June showed that prices fell 10.2%. So house prices are moving, albeit down.

The factors that are affecting property are mixed and many, primarily the prices are/were too high, and any time assets receive valuations above and beyond what they merit you will see market corrections. We are also seeing a unique time in banking history, and in many respects the property price correction is not dissimilar to the 1929 crash because both of them focus around leverage, I’ll continue on that point in a later blog about ‘similarities in economic history’.

Cheap money from central banks is also on the wane, in fact almost every economy has increased rates in an effort to bring inflation under control, mixed in with the lending liquidity issues we see a two fold effect. First is that there is not as much money to lend, even …

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