House prices nationally rose by 1.3% in the third quarter of 2018, according to the latest House Price Report released today by Ireland’s No.1 property website, Daft.ie. The average price nationwide between June and September was €257,000, 6.6% higher than a year ago. Compared to their lowest point in 2013, prices nationwide have risen by an average of 56% or just over €92,000.
In Mayo, prices in the third quarter of 2018 were 6% higher than a year previously, compared to a rise of 5% seen a year ago. The average house price is now €153,000, 38% above its lowest point.
In Dublin, prices rose by just 0.2% between June and September, the smallest three-month gain since late 2016. This was also seen in each of the other major cities, with much more muted price gains in Galway (1.1%) and Limerick (1.0%), and largely stable prices in Waterford (0.2% rise) and Cork city (0.1% fall). Outside the main cities, prices rose by 2.2% in the same period.
The number of properties available to buy on the market nationwide continues to rise. There were almost 25,000 properties for sale nationwide in September, roughly 1,000 higher than a year previously. The increase in availability is almost entirely driven by Dublin, where stock on the market has improved 40% year-on-year. The rest of Leinster has also seen stock increase (by 7%), while Munster and Connacht-Ulster continue to see availability shrink.