House prices in Ireland expected to rise by up to 15 percent in 2018, but here are the current average prices for houses available in Dublin city, Roscommon, Cork, Donegal, and Galway.
Having surveyed real estate agents and experts from across Ireland the Sunday Times has issued a report showing that prices of houses could rise by as much as 15 percent in 2018.
In their report, published on Jan 7, The Sunday Times Property Price Guide reports that there will be an average price hike of 8 percent across the country in 2018 as lack of supply will continue to drive prices upward.
According to the report, Dublin estate agents are predicting price hikes of between 5 and 10 percent in 2018, although some houses in some areas – such as Dublin 4 and Dublin 12 – could see price values rise by as much 15% this year.
Another busy year is expected in Cork city with values estimated to rise anywhere from 8 to 10 percent. Demand far outstrips supply at present, but new developments are expected to relieve some pressure.
Residential property prices in Galway city increased by 15 percent in 2017 and agents expect more of the same in 2018 with little supply coming on the market. While values may increase by as much as 15 percent in Salthill, other areas of the city can expect up to 8 percent added to the value of their homes.
Of all the counties, Donegal’s outlook is the worst as Brexit uncertainty and a reduction in purchases from across the border hamper sales. Agents don’t expect any increase in house values in 2018.
Given this drastic news, we decided to take a look at the average house prices in randomly selected areas in Ireland – Dublin city, Roscommon, Cork, Donegal, and Galway. The largest property we could find in each area from within the average price range.
Dublin 1 and 2 – calculated average house price $350,210 (€292,500)
Where? 23 Montgomery Court, Dublin 1
What? Two-bedroom, two-bathroom second-floor apartment
How much? $353,179 (€295,000)
– Comprising an entrance hall, storage room, kitchen-dining-living room, two double bedrooms, two bathrooms
– Balcony off the main bedroom.
Average house price $ 123,945 (€103,500)
Where? 3 Knockroe Park, Castlerea
What? Semi-detached four-bedroom house with three bathrooms
How much? $119,751 (€100,000)
– Overall floor area of 127.7 sq. meters (1,375 sq. feet)
– Close to the center of Castlerea town.
– Garden at front and side of house
– Composed of reception/hallway, cloakroom, sitting room, kitchen-dining room, utility room, landing area, four bedrooms (one en-suite) and one main bathroom.
Calculated average house price (from north, east and west of county) – $202,303 (€168,937)
Where? 7 The Lawn, Castletownshend
What? Four-bed, three-bathroom, terraced house
How much? $197,545 (€165,000)
– Overall floor area: 143.8 sq. meters (1,548 sq. Feet)
-Three-floor residence located within walking distance to Castletownshend village and harbor
– Double glazed windows, electric storage heaters, open fire and tile and timber flooring throughout.
– Comprising an entrance hall, open plan kitchen/living/dining, guest bathroom, 4 bedrooms, master en-suite and two bathrooms.
– Castletownshend is a coastal village located 4 miles from Skibbereen town whilst Cork city is over an hour' s commute.
Average house price $118,919 (€99,340)
Where? Middle Dore, Bunbeg, Gweedore
What? Four-bedroom detached house with two bathrooms
How much? $118,512 (€99,000)
– Recently renovated dwelling on 3.5 acres running to the Gweedore estuary
– Situated on the main coast road between Bunbeg and Crolly
– Outbuildings include large garage and store.
– Main property comprises kitchen-dining room, hallway, bathroom, bedrooms, sitting room, landing.
Average house price – $155,650 (€130,000)
Where? Árd Thoir, Carna
What? Five-bedroom, two-bathroom bungalow
How much? $155,650 (€130,000)
– Located on 0.5 acres
– Close to the sea.
– First-floor accommodation is in need of some completion work.
– The property comprises an entrance hall, kitchen-diner, bedrooms and bathrooms.
For more visit Daft.ie.