Our transactional data confirms quarter one was a surprisingly positive period for sellers, with strong demand from owner occupiers, especially first-time buyers in the <€500,000 price range and an acute lack of properties for sale. As always, different property types in different locations performed very differently. Our average selling price was 4.5% above asking prices and 60% of our listings were agreed above asking. Houses were selling 15% more per sq. ft. than apartments and were selling twice as fast. We saw an increase in demand from investors and an increase in cash purchasers compared to the previous quarter. However, 84% of our sellers were landlords as their exit from the market accelerates. Our average rental was €2,322 per month, up 4% on Q4.
Our transactional data showed the following trends:
- Average selling prices were 4.5% above asking prices, compared to +5.1% in Q4.
- 82% of our owner occupier buyers were first-time buyers.
- For the first time most of our buyers were non-Irish.
- Our average selling price was €477,577 or €654 per sq. ft.
- 42% of our buyers required no mortgage funding.
- Investors accounted for 29% of our buyers compared to 24% in Q4.
- Our average rental was €2,322 per month, up 4% on Q4.
- 66% of our tenants are working in the technology sector compared to 78% in Q4.
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