For anyone hoping to buy their own home in Dublin in 2018, it's not looking great. The latest property report by Myhome.ie has outlined some tough times ahead for Dublin's property market - and wannabe homeowners should take note.
Their Dublin property analysis showed that the capital has seen the sharpest acceleration in
house price inflation over the past 12 months, with asking prices for homes up 11% year-on-year.
Asking prices for Dublin homes are expected to rise by another 6-7% in 2018
In Dublin the median price of a home was €330,000 compared with €195,000 in the rest of Ireland, with the average price of a four-bedroom detached home going for €633,000.
The average Dublin buyer needed a deposit of almost €53,000
The report showed that the average Dublin buyer last year had an income of €77,000, a deposit of €52,800 and purchased a home worth €321,000.
Dublin homes are selling at an increasingly fast rate
At the end of the year the number of properties listed for sale on Myhome.ie had fallen to just 18,900 - a record low.
Not surprisingly the average time to sale agreed was just 3.8 months nationally and 2.8 months in Dublin. Theses figure show that whatever stock is for sale is sold ever more quickly.
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