DNG Market Review Q1 2014
May 19, 2014 | By DNG Publications |
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#21 CONTENTS INTRODUCTION DNG NATIONWIDE PRESENCE DNG NEW HOMES & ADVISORY INVESTMENT PROPERTIES DEVELOPMENT LAND EXPERTS 03 04 05 24 25 26 51 76 104 DNG FARMS & COUNTRY HOMES DNG PRIVATE CLIENTS GMC MORTGAGES MYHOME.IE RESIDENTIAL DUBLIN DNG RAHENY D
The residential property market in Dublin performed better last year than it has in any of the preceding seven years since the property market took a turn for the worst in Q3...
KEY FINDINGS ➢ Strong price growth remains a feature of the Dublin market in Q3. ➢ Average price of a residential property in the capital rises 4.8% in Q3. ➢ Prices rise by 2% per month on average in twelve months to September 2014. ➢ Prices now less than 50% lower than at the peak and up 51% since market low point. Headline Results Q3 2014 Quarterly Change in Dublin Residential Property Prices 2 QUARTERLY RESULTS The DNG House Price Gauge (HPG) recorded an increase of 4.8% in the average price of a residential resale property in Dublin during the three months to the end of September 2014. The quarterly rate of price increase in the third quarter of the year was slightly lower than that recorded in the previous quarter (5.9%) and continues the trend of a slowing pace of quarterly property price inflation seen in the year to date, as shown in Figure 1 above. The latest quarterly results from the HPG mean that the average price of a resale residential property in Dublin now stands at € 365,000, up from € 349,000 at the end of quarter two, and € 294,000 twelve months ago. The average value of a residential property in the capital has now been rising consistently for nine consecutive quarters, as recorded by the HPG. ANNUAL PERCENTAGE CHANGE The latest results of the HPG show that the rate of price inflation, as measured on an annual basis, eased back slightly in the twelve months to September 2014. The annual percentage increase in Dublin residential prices fell to 24.2% over the period, compared to an annual rate of increase of 25.2% in the year to the end of June 2014. However, the rate of annual price inflation is still significantly higher than that recorded in the year to the end of September 2013 when