Cost To Buy A House In Dublin...


Cost To Buy A House In Dublin Up 12%

Heather Lawrie
Heather Lawrie

09:30 30 Jun 2023

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A new survey, undertaken by estate agent DNG Properties has found that house-price inflation has fallen to 3.4 per cent during the last 12 months.

However, the cost of buying a house in Dublin has risen by 12 per cent.

The average cost of a resale in Dublin is now €522,744. That's a big contrast to prices outside of the capital which sit at an average of €270,744.

Paul Murgatroyd from DNG Properties says it's surprising to see such a stark difference.

"Given the supports that are in place from government for first time buyers, primarily targeted at the new homes market, such as the help to buy scheme and the shared equity scheme, and also the changes to the central bank's macroprudential lending rules. We have seen solid demand in the first six months of the year, but it is not enough to cause prices to continue rising.

Nominal values are high and as interest rates have risen so the affordability, particularly for first time buyers, has been impacted.
However, in saying that prices are starting to level out rather than decline, which is good news for buyers."


In other property news, mortgage holders will see an interest rate hike by AIB from today.

Its fixed and variable mortgage rates are facing an average increase of zero point four six per cent. The lender says the increase will be across AIB, EBS and Haven.

It comes after the European Central Bank increased rates earlier this month.


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