News

7% Rise In Dublin House Prices Forecasted For 2018


Share this article


Dublin House prices are expected to rise by up to 7% this year, according to the latest 'My Home' report.

The findings also suggest prices are expected to rise at a slightly slower pace due to a tightening of the Central Bank lending rules.

Last year was a year of robust inflation, with prices in the capital increasing by 11.1%, .9% above the national average.

The median asking price for new sales in Dublin came to €330,000, compared with €195,000 in the rest of Ireland.

As a result, those buying homes here have been taking out higher levels of mortgage debt.

The author of the report, Conall MacCoille, Chief Economist at Davy, said the tighter Central Bank rules will serve to slow house price inflation in Dublin.

“Asking prices have fallen in the final quarter of each of the last five years before bouncing back in the Spring and we see that pattern continuing in 2018. However due to the Central Bank tightening its mortgage lending rules we believe house price inflation in more expensive areas, like Dublin, will slow somewhat to around 6 or 7%.

“Homebuyers in Dublin have been taking out higher levels of mortgage debt, but with the availability of credit constrained, further price increases will also be curtailed slightly in 2018. However double-digit price gains are likely to continue outside the capital where the recovery began later, prices are cheaper and there is still scope for leverage on mortgage lending to rise.”


Share this article


Read more about

News

You might like

Live: Title

Description

Added to queue
Removed from queue

On Air

Share

Share

Next up on queue

Title
Description
Duration

There are currently no podcasts in the queue

Go to podcasts

On Air

98FM'S Big Breakfast with Cooper & Luke

98FM'S Big Breakfast with Cooper & Luke

06:00-10:00

Share

Up next

Dublin Talks with Adrian & Jeremy

Dublin Talks with Adrian & Jeremy

10:00-12:00

Share

The Sound of the City with Barry Dunne

The Sound of the City with Barry Dunne

12:00-16:00

Share

The Big Ride Home with Dara Quilty

The Big Ride Home with Dara Quilty

16:00-19:00

Share

The Fix with Brian Maher

The Fix with Brian Maher

19:00-22:00

Share

The Sound of the City with Ciaran O'Connor

The Sound of the City with Ciaran O'Connor

22:00-00:00

Share

The Sound of the City

The Sound of the City

00:00-06:00

Share

98FM'S Big Breakfast with Cooper & Luke

98FM'S Big Breakfast with Cooper & Luke

06:00-10:00

Share

00:00:00 / 00:00:00

Share on