Rejoice! Dublin House Prices Fall For The First Time In Three Years
Great news for those looking to buy in Dublin
We're used to house prices only going one way in the capital, but buyers got some good news today – prices have fallen across the capital by 0.1% in the third quarter of this year.
The figures are part of a survey released by the property website Myhome and Davy – and while the decrease is quite tiny, it will signal better news for people on the lookout for a new property.
The fall in prices comes against news that prices have risen across the country by 1.8% as the rest of Ireland catches up with Dublin.
Although the news is good for Dublin the numbers are mixed across the country
The author of the report, Conall MacCoille, Chief Economist at Davy, said he expects house price inflation to slow to 5% by December, with a similar gain likely in 2016.
He believes stretched affordability, the Central Bank’s mortgage lending rules and an improving stock of homes available for sales are cooling price rises, particularly in Dublin.
Median houses prices remain close to all time highs across the country
So if you have a bit of spare cash now could be the time to splash out on this €4m dream house in Dalkey.
Or maybe the cheapest house currently available in Dublin at just €60,000. Bit of work to do, mind...