Our Q2 transaction report on the Dublin residential market confirms it is very much a seller’s market. Values in our key markets are up 4% this year the supply of properties for sale down 18% on the same period last year. Our average selling prices were 6% over asking prices. 78% of our listings were agreed above asking compared to 46% for the same period last year. Our average selling price was €634,481/€708 per sq. ft. Activity was strongest in the <€500,000 price range with selling prices 7.2% above asking prices. Average selling times were fast at 6.5 weeks. Some houses in turn-key condition have sold in a couple of weeks.
Key highlights:
- Dublin property prices up 4% this year.
- Average selling price was €634,381 or €708 per Sq. ft.
- Average selling price were 6% above asking.
- Average buyer age was 44.
- 63% of our buyers required no mortgage funding.
- Rents fell in Q2 due to increased supply of new build to rent developments and hybrid working.
- Private landlord exodus continues: they accounted for 67% of our sellers.
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