IPAV’s twice-yearly Residential Property Price Barometer, published last Sunday, has found that while the overall price increase for the latter six months of 2023 was 2.99%, up from 2.05% in the previous six months, there are increases right across the country in the 5% to 7% range.
Lower increases of the order of 1% were seen in many Dublin areas where prices are at the higher end or where supply has increased beyond the norm, and this has served to bring the overall increase in the latter six months to 2.99%. In the entire Barometer, there were just two negative figures, in Dublin 6 and Wicklow, in the four-bedroom category, and these were 0.23% and 0.09% respectively.
IPAV’s Residential Property Price Barometer charts prices actually achieved by auctioneers for three- and four-bedroom houses and two-bedroom apartments, and has proven itself to be a very reliable data source.
Roscommon saw a 4.9% rise in the three-bedroom category; 5.23% for four-bedroom properties and 2.34% for two-bedroom apartments.
Commenting, Pat Davitt (IPAV’s Chief Executive) said: “Despite the substantial increases of recent years,’ prices remain resilient and given the paucity of supply, it’s not unreasonable to think that, barring a geopolitical crisis or unforeseen catastrophe, we could see rises of the order of 5% this year”.
He said auctioneers continue to report a scarcity of supply at a time of strong demand, including from non-Irish nationals and returning emigrants.
