Date post: | 07-Jul-2018 |
Category: |
Documents |
Upload: | john-hayes |
View: | 213 times |
Download: | 0 times |
of 12
8/18/2019 q1 2016 Daft House Price Report
1/12
8/18/2019 q1 2016 Daft House Price Report
2/12
Starting in 2013, house
price ination reappeared
in the capital, after an
absence of six years and
within 18 months, prices
had risen by over 40% on
average – and almost 50%
in some districts.The introduction of the Central Bank rules,
however, has nipped a new housing bubble in the
bud and since then prices in Dublin have barely
budged, rising 0.9% in the year to March according
to the gures in this report. What the Central Bank
eectively did was freeze credit conditions the way
they were in late 2014 and thus prices are now
being driven not by bank lending practices or by
expectations, but rather by the more fundamental
forces of supply and demand.
The issue in the Irish housing market currently – and
in particular in the greater Dublin area – is a lack of
homes. Every month, roughly 2,000 new households
are formed, each requiring somewhere to live. But
each month currently sees the construction of at
best 1,000 new homes. In Dublin, the gures are
even starker – nearly half of all new households are
being formed in or around the capital but only 150 or
so properties are being built each month in the cit y.
The result is that fewer and fewer homes are on
the market. And this is a trend that is common to all
parts of the country now, not just Dublin, which did
not see any signicant over-construction during the
bubble years. The rst graph below shows the total
number of properties on the market each month
from 2010 on. It is clear from the graph that the
tightening of supply in Dublin took place between
2011 and early 2014 and if anything has improved
slightly since.
Total number of properties actively for sale, by
region, 2010-2016
Elsewhere in the country, however, the trendtowards tighter and tighter supply continues, with
less than half the number of homes on the market
now compared to four years ago. It’s worth noting,
however, that Dublin has a larger population than
any of the other three regions shown in the graph.
So, on a per-capita basis, Dublin remains the most
starved market: there are just 27 homes for sale for
every 10,000 people in Dublin, compared to 62 per
10,000 people elsewhere in the country.
Ronan Lyons, Assistant Professor
in Economics, TCD
The Daft.ie House Price Report – 2016 Q1 | 2
The Good and the
bad in the marketcurrently.Perhaps the most remarkable feature of the Irish housing
market over the last couple of years has been the
dramatic start and end of house price ination in Dublin.
LeinsterDublin Conn-Ulst Munster
2010 2011 2012 2013 2014 2015 2016
0
5,500
11,000
16,500
22,000
8/18/2019 q1 2016 Daft House Price Report
3/12
8/18/2019 q1 2016 Daft House Price Report
4/12
Cork City
€232,145 | 14.9%
Limerick City
€149,989 | 18%
Galway City
€228,222 | 14.0%
Waterford City
€134,945 | 18.0%
NationwideAverage asking prices and Y-on-Y change
DublinAverage asking prices and Y-on-Y change
North County€265,147 | 1.1%
South County€517,774 | -1.8%
West County€268,269 | 1.1%
South City€345,203 | 1.0%
City Centre€249,033 | 0.3%
North City€283,887 | 2.0%
MN
€141,700
11.0%
CN
€133,530
18.3%
WH
€150,437
10.5%
LD
€100,237
5.0%
LH
€170,862
11.6%
MH
€210,619
9.8%
KE€216,552
8.1%
WW
€277,549
4.9%
WX
€165,422
9.9%
CW
€143,644
2.2%
KK
€176,644
9.5%
LS
€140,888
12.0%
OY
€143,920
5.3%
G
€163,039
13.3%
MO
€127,664
5.7%
SO
€114,102
2.6%
DL
€132,442
10.0%
RN
€113,466
8.4%
LM
€111,964
15.9%
CE
€149,999
12.5%
T
€148,331
4.5%L
€151,405
6.6%
C
€179,581
11.6%
KY
€164,927
6.2%
W
€183,336
9.9%Prices up 28% from their lowest point
Nationally, the average asking price reached its lowest point in
the third quarter of 2013 and has risen 27.9% - or just under
€46,000 - since then. In Dublin, however, the bottom was
reached in the second quarter of 2012 and prices have risen
by an average of 41.4% - or €91,000 - since that time. The last
part of the country to see prices level o was Limerick - in
both Limerick city and county, prices only reached their lowest
point in the nal quarter of 2014 but prices have risen by 26%
in the city (and by 15% in the county) in the last 12 months.
The Daft.ie House Price Report – 2016 Q1 – 2015 Year in Review | 65 | The Daft.ie House Price Report – 2016 Q1
8/18/2019 q1 2016 Daft House Price Report
5/12
2.9%Quarter-on-quarter change in average asking prices
Daft.ie Asking Price Index Annual ination in listprices falls to 5.9%The annual increase in average house prices currently stands at 5.9%,
compared to 8.5% three months ago and 15.5% at the start of 2015.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
January 185.3 213.8 212.9 184.5 151.6 128.2 105.6 96.8 99.9 112.8 121.9
February 200.2 215.8 212.3 180.9 150.3 128.1 104.5 96.1 99.3 117.6 112.8
March 198.1 214.8 209.6 177.4 146.7 125.3 102.9 96.6 103.3 119.1 125.4
April 203.2 216.5 208.1 174.7 146.6 121.8 101.7 96.6 104.5 118.7
May 205.3 217.5 205.7 171.0 145.0 120.1 102.2 97.0 107.2 119.4
June 207.1 217.1 203.4 167.7 141.8 116.1 99.5 97.5 107.9 118.2
July 209.3 219.2 202.3 165.1 138.0 115.4 97.8 96.5 109.9 120.3
August 210.4 217.5 199.6 161.2 137.6 113.1 98.9 97.0 111.2 120.4
September 213.8 215.8 198.1 159.2 136.5 113.3 97.1 96.7 112.9 121.5
October 214.7 214.8 193.7 156.4 134.0 108.7 97.9 97.2 110.5 120.6
November 212.8 212.4 188.2 152.3 130.9 106.0 95.8 96.9 110.0 119.5
December 214.9 213.5 186.3 150.9 129.8 106.0 96.0 96.2 111.1 119.8
Dublin house prices now
eectively stable
Having peaked at 24.5% in late
2014, annual ination in Dublin
house prices is now just 0.9%.
Slight rise in speed
of sales
62% of properties nd within
four months, a slight rise on the
same gure a year ago (58%)
and similar to late 2014.
Quarter-on-quarter change in average asking prices(2012 average = 100)
Stock of properties on Daft.ie(start of month) and ow of properties , 2007-2015
Stock (lhs) Inflow (rhs) Outflow ( rhs)
0
2000
4000
6000
8000
10000
12000
14000
2009 2010 2011 2012 2013 2014 2015 201620082007
0
10000
20000
30000
40000
50000
60000
70000
Stock of properties on the
market at 9-year low
Having fallen from a peak of
over 60,000 in 2009, there were
just under 24,000 properties for
sale in the country in April, thelowest since February 2007.
The Daft.ie House Price Report – 2016 Q1 | 87 | The Daft.ie House Price Report – 2016 Q1
The Daft.ie Asking Price Index is based on asking prices for properties posted for sale on Daft.ie. An index based on asking price, as opposed to closing price, is a measure
of sellers’ expectations. Figures are calculated from econometric regressions, which calculate changes in price that are independent of changes in observable measures of
quality, such as location, or bedroom number.
8/18/2019 q1 2016 Daft House Price Report
6/12
2.9%
Daft.ie Transaction Price Index Dublin transaction prices rise
4% in 12 monthsUsing transaction prices, the rate of ination in Dublin house prices has
slowed from more than 20% to 4% in the last year.
2010 2011 2012 2013 2014 2015 2016
January 151.8 132.0 100.0 92.8 104.7 120.0 136.5
February 145.5 127.8 99.9 94.3 100.1 125.0 130.0
March 145.0 120.9 102.5 95.3 103.2 120.6 131.2
April 146.2 122.0 102.3 97.9 107.4 123.0
May 137.9 117.0 98.3 98.1 110.1 128.5
June 142.6 115.8 97.4 100.1 111.4 130.8
July 139.1 119.6 101.8 101.1 113.4 128.6
August 138.1 114.0 99.5 101.5 119.1 132.0
September 133.6 111.9 101.7 100.2 119.2 123.6
October 130.2 108.0 98.0 103.5 120.8 132.0
November 134.4 108.4 98.0 104.3 121.2 127.5
December 133.9 108.3 100.6 106.5 118.1 114.8
Outside Dublin,
infation eases slightly
By mid-2015, house price
ination outside Dublin had
risen to more than 20% - but
by early 2016, it had slowed
to 12.8%.
First fall in transaction
volumes since 2011
There were almost 14,000
transactions in the nal quarter
of 2015, the second highest
recorded since 2010 - but below
the record amount of almost
16,000 in late 2014.
Transaction prices slightly
above list prices across the
country
In most parts of the country, the
ultimate transaction price was
slightly above the original list
price, from 0.5% in Dublin to 2.4%
in Connacht-Ulster. In Munster,
there was next to no gap.
Transaction Prices, Residential Sales(2012 average = 100)
Number of transactions recordedon the price register 2010-2016
Q2
‘10
Q3
‘10
Q4
‘10
Q1
2011
Q2
‘11
Q3
‘11
Q4
‘11
Q1
2012
Q2
‘12
Q3
‘12
Q4
‘12
Q1
2013
Q2
‘13
Q3
‘13
Q4
‘13
Q1
2014
Q2
‘14
Q3
‘14
Q4
‘14
Q1
2015
Q2
‘15
Q3
‘15
Q4
‘15
0
2000
4000
6000
8000
10000
12000
14000
16000
Q1
2010
Q1
2016
The Daft.ie House Price Report – 2016 Q1 | 109 | The Daft.ie House Price Report – 2016 Q1
The Daft.ie Price Register Index is based on prices for residential properties recorded on propertypriceregister.ie, for which matches were found in the daft.ie archives.
Because these are entered with a lag by solicitors, gures for previous quarters are subject to revision. Figures are calculated from econometric regressions, which calculate
changes in price that are independent of changes in observable measures of quality, such as location, type, or size.
* Latest quarter subject to signicant revision
Quarter-on-quarter change in average transaction prices (provisional)
8/18/2019 q1 2016 Daft House Price Report
7/12
Asking prices nationwideAverage asking prices across Ireland (€000s), and annual change (%), 2016 Q1
The Daft.ie House Price Report – 2016 Q1 | 1211 | The Daft.ie House Price Report – 2016 Q1
L E I N S T E R
M U N S T E R
C O N N A C H T
U L S T E R
O T H E R C I T I E S
1 be d a par tment 2 bed ter race d 3 bed sem i- d 4 bed bung al ow 5 bed de tac he d
Dublin 1 €163 9.5% €247 4.5% €344 4.1% €511 7.7% € 62 2 0 .9 %
Dublin 2 €221 -16.0% €307 -6.0% €440 -4.7% €672 0.8% €760 -8.4%
Dublin 3 €205 4.1% €289 4.0% €4 06 4.3% €66 3 7.1% € 82 6 6 .6 %
Dublin 4 €281 -5.1% €399 1.8% €581 1.8% €980 3.9% €1,188 3.2%
Dublin 5 €164 -6.1% €206 -6.0% €317 1.4% €527 7.5% €615 2.5%
Dublin 6 €281 -7.9% €354 -7.8% €543 -0.5% €903 5.4% €1,055 0.5%
Dublin 6W €225 -5.5% €283 -5.4% €435 2.0% €723 8.1% €845 3.1%
Dublin 7 €167 -3.2% €211 -3.1% €324 4.6% €538 10.8% €629 5.6%
Dublin 8 €174 -1.1% €219 -1.0% €336 6.8% €559 13.2% €654 7.9%
Dublin 9 €170 -2.8% €214 -2.6% €329 5.0% €547 11.3% €640 6.1%
Dublin 10 €107 1.0 % €135 1.1% €207 9.0% €344 15.5% €402 10.1%
Dublin 11 €126 -0.1% €159 0.0% €244 7.9% €406 14.3% €474 9.0%
Dublin 12 €144 -3.8% €181 -3.6% €278 4.0% €463 10.1% €541 5.0%
Dublin 13 €172 -4.9% €217 -4.8% €333 2.7% €554 8.8% €647 3.7%
Dublin 14 €218 -4.4% €274 -4.3% €421 3. 2% €701 9.4% €819 4.3%
Dublin 15 €131 -5.8% €165 -5.7% €25 4 1.7% €422 7.8% €494 2.7%
Dublin 16 €190 -10.3% €240 -10.2% €368 -3.1% €612 2.6% €716 -2.1%
Dublin 17 €116 -2.2% €146 -2.0% €224 5.7% €37 3 12.0% €436 6.7%
Dublin 18 €214 -8.7% €270 -8.6% €414 -1.4% €688 4.5% €804 -0.4%
Dublin 20 €150 -5.3% €189 -5.1% €291 2.3% €483 8.4% €565 3.3%
Dublin 22 €109 0.0 % €138 0.1% €211 8.0% €352 14.4% €411 9.1%
Dublin 24 €116 -0.3% €146 -0.1% €225 7.7% €373 14.1% €436 8.8%
North Co Dublin €134 -5.3% €169 -5.1% €259 2. 3% €431 8.4% €503 3.4%
South Co Dublin €252 -8.0% €318 -7.9% €488 -0.7% €812 5.2% €948 0.3%
West Dublin €133 -5.7% €167 -5.6% €257 1.9% €427 7.9% €499 2.9%
Cork City €97 8.4% €117 15.0% €204 24.1% €357 24.5% €441 16.3%
Galway City €88 8.5% €106 15.1% €185 24.2% €323 24.6% €400 16.4%
Limerick City €66 11. 4% €79 18.2% €138 27.5% € 241 2 7.9 % € 29 8 19.5%
Waterford City €56 11.3% €68 18.1% €118 27.4% € 207 2 7. 8% € 25 6 19.4%
1 bed apa rtm ent 2 be d ter ra ced 3 be d se mi -d 4 be d bunga low 5 be d d eta ched
Meath €78 -0.0% €96 5.3% €147 14.8% €293 11.6% €319 7.8%
Kildare €85 -1.3% €105 3.9% €161 13.3% €319 10.1% €348 6.4%
Wicklow €108 -3.8% €132 1.3% €203 10.4% €403 7.3% €439 3.7%
Louth €69 1.6% €84 7.1% €129 16.7% €257 13.4% €280 9.6%
Longford €35 -4.2% €43 0.9% €65 10.0% €130 6.9% €141 3.3%
Oaly €53 -4.2% €65 0.9% €99 10.0% €197 6.9% €215 3.3%
Westmeath €56 0.6% €69 5.9% €105 15.5% €209 12.2% €228 8.5%
Laois €54 1.8% €66 7.2% €101 16.9% €200 13.6% €219 9.8%
Carlow €53 -7.0% €65 -2.0% €99 6.8% €197 3.8% €215 0.3%
Kilkenny €63 -0.0% €78 5.3% €119 14.8% €237 11.6% €258 7.8%
Wexford €57 0.4% €70 5.8% €107 15.3% €212 12.0% €232 8.3%
Waterford Co €63 7.7% €77 10.7% €119 17.4% €240 16.0% €263 11.1%
Kerry €56 4.0% €68 6.9% €105 13.3% €212 11.9% €232 7.2%
Cork Co €63 9.1% €77 12.2% €119 18.9% €241 17.5% €263 12.5%
Clare €53 10.1% €65 13.2% €100 20.0% €203 18.5% €223 13.5%
Limerick Co €50 4.3% €60 7.2% €93 13.6% €189 12.2% €207 7.5%
Tipperary €52 2.1% €63 5.0% €97 11.3% €196 9.9% €215 5.3%
Galway Co €53 12.3% €59 13.0% €90 21.7% €187 16.9% €210 9.9%
Mayo €48 4.2% €52 4.8% €80 13.0% €166 8.5% €187 2.0%
Roscommon €39 7.3% €43 8.0% €66 16.4% €136 11.8% €153 5.0%
Sligo €46 0.5% €51 1.2% €78 9.0% €161 4.7% €181 -1.6%
Leitrim €41 14.9% €45 15.6% €69 24.6% €144 19.6% €162 12.4%
Donegal €47 8.4% €51 9.1% €79 17.6% €163 12.9% €184 6.1%
Cavan €46 16.3% €51 17.0% €78 26.1% €161 21.1% €181 13.9%
Monaghan €52 8.4% €57 9.1% €88 17.6% €182 12.9% €205 6.1%
D U B L I N
8/18/2019 q1 2016 Daft House Price Report
8/12
DublinBetween January and March, average list pricesrose in all six regions in Dublin, with the smallest
rise in South County Dublin.
North CityAverage price: €282,887
Qtr-on-qtr change: 2.1%
Year-on-year change: 2.0%
Change from trough: 43.5%
City CentreAverage price: €249.033
Qtr-on-qtr change: 1.4%
Year-on-year change: 0.3%
Change from trough: 48.5%
South CityAverage price: €345,203
Qtr-on-qtr change: 1.7%
Year-on-year change: 1.0%
Change from trough: 41.9%
North CountyAverage price: €265,147
Qtr-on-qtr change: 2.1%
Year-on-year change: 1.1%
Change from trough: 30.1%
West CountyAverage price: €268,269
Qtr-on-qtr change: 1.6%
Year-on-year change: 1.1%
Change from trough: 44.4%
South CountyAverage price: €517,774
Qtr-on-qtr change: 0.6%
Year-on-year change: -1.8%
Change from trough: 49.6%
O ne y ea r a go Pr ev io us q ua rt er C ur re nt q ua rt er
Proportion of properties marked as sale agreed and withdrawn, 2012-2016.
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Within 6 months
Within 4 months
Within 2 months
How ast are propert es n Du n se ng?
Average house price by area, 2006-2016.
How ave ouse prices c ange ?
D ub li n C ity Cen tr e N or th Dub li n C ity So ut h D ub li n C it y N or th Co un ty Dub li n Sou th Co un ty Du bl in We st Cou nt y D ub li n
€100,000
€200,000
€300,000
€400,000
€500,000
€600,000
€700,000
€800,000
Q1
2006
Q1
2007
Q1
2008
Q1
2009
Q1
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
The Daft.ie House Price Report – 2016 Q1 | 1413 | The Daft.ie House Price Report – 2016 Q1
Stock on market stable
The rst three months of 2016 saw similar numbers
of properties on the market at any one time to a year
previously - at an average of close to 3,400.
Two thirds sell in 4 months
67% percent of properties nd a buyer within four
months in the capital - slightly up on the same period
a year ago (65%).
Transaction prices close to ask
The average transaction price in Dublin is 0.5% a
bove its original list price, compared to 3% above a
year ago.
Prices now falling
Compared to a year ago, the average list price in
South County Dublin is now 1.8% lower, the rs t year-
on-year fall in the region since 2012.
8/18/2019 q1 2016 Daft House Price Report
9/12
LeinsterAcross Leinster, asking prices rose by 2-3% in
the rst three months of 2016
LouthAverage price: €170,862
Qtr-on-qtr change: 3.8%
Year-on-year change: 11.6%
Change from trough: 34.0%
MeathAverage price: €210,619
Qtr-on-qtr change: 2.5%
Year-on-year change: 9.8%
Change from trough: 40.3%
KildareAverage price: €216,552
Qtr-on-qtr change: 2.5%
Year-on-year change: 8.1%
Change from trough: 38.1%
WicklowAverage price: €277,549
Qtr-on-qtr change: -1.3%
Year-on-year change: 4.9%
Change from trough: 36.5%
WexfordAverage price: €165,422
Qtr-on-qtr change: 3.2%
Year-on-year change: 9.9%
Change from trough: 32.4%
LongfordAverage price: €100,237
Qtr-on-qtr change: 2.2%
Year-on-year change: 5.0%
Change from trough: 19.0%
WestmeathAverage price: €150,437
Qtr-on-qtr change: 3.2%
Year-on-year change: 10.5%
Change from trough: 27.4%
OffalyAverage price: €143,9307
Qtr-on-qtr change: 4.1%
Year-on-year change: 5.3%
Change from trough: 19.2%
LaoisAverage price: €140,888
Qtr-on-qtr change: 3.3%
Year-on-year change: 12.0%
Change from trough: 35.8%
KilkennyAverage price: €176,643
Qtr-on-qtr change: 3.3%
Year-on-year change: 9.5%
Change from trough: 33.3%
CarlowAverage price: €143,644
Qtr-on-qtr change: 2.2%
Year-on-year change: 2.2%
From trough: 22.7%
O ne y ea r a go Pr ev io us q ua rt er C ur re nt q ua rt er
Proportion of properties marked as sale agreed and withdrawn, 2012-2016.
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Within 6 months
Within 4 months
Within 2 months
How ast are propert es n Lenster se ng?
Average house price by area, 2006-2016.
How ave ouse prices c ange ?
D ub li n C om mu te r C ou nt ie s W es t L ei ns te r S ou th -E as t L ei ns te r
€100,000
€50,000
€150,000
€200,000
€250,000
€300,000
€350,000
€400,000
€450,000
Q1
2006
Q1
2007
Q1
2008
Q1
2009
Q1
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
The Daft.ie House Price Report – 2016 Q1 | 1615 | The Daft.ie House Price Report – 2016 Q1
Slowdown in tightening of supply
There were 5,700 properties on the market in
Leinster outside Dublin in April, the lowest at any
point since the start of 2007.
60% sell in 4 months
The fraction of Leinster properties nding a buyer
within four months is 61% now, similar to late 2014
and above levels in late 2015 (54%).
Transaction prices 1% above ask
The average transaction price in Leinster is 1.4%
above its original list price, just ahead of the gure
above a year ago (1.2%).
Up to 10% increases
Many parts of Leinster saw increases of close to - or
indeed more than - 10% in the year to early 2016,
although prices only increased by 2% in Carlow.
8/18/2019 q1 2016 Daft House Price Report
10/12
MunsterStrong gains in list prices in rural Munster in
early 2016
TipperaryAverage price: €148,331
Qtr-on-qtr change: 4.0%
Year-on-year change:4.5%
Change from trough: 16.6%
Limerick CityAverage price: €149,989
Qtr-on-qtr change: 3.3%
Year-on-year change:18.0%
Change from trough: 26.3%
Waterford CountyAverage price: €183,336
Qtr-on-qtr change: 4.8%
Year-on-year change:9.9%
Change from trough: 27.5%
Waterford CityAverage price: €134,945
Qtr-on-qtr change: 4.3%
Year-on-year change:18.0%
Change from trough: 28.8%
ClareAverage price: €149,999
Qtr-on-qtr change: 4.9%
Year-on-year change: 12.5%
Change from trough: 25.4%
Limerick CountyAverage price: €151,405
Qtr-on-qtr change: 4.2%
Year-on-year change: 6.6%
Change from trough: 15.1%
KerryAverage price: €164,927
Qtr-on-qtr change: 5.4%
Year-on-year change: 6.2%
Change from trough: 17.4%
Cork CountyAverage price: €232,145
Qtr-on-qtr change: 2.2%
Year-on-year change: 14.9%
Change from trough: 41.4%
Cork CityAverage price: €232,145
Qtr-on-qtr change: 2.2%
Year-on-year change: 14.9%
Change from trough: 41.4%
O ne y ea r a go Pr ev io us q ua rt er C ur re nt q ua rt er
Proportion of properties marked as sale agreed and withdrawn, 2012-2016
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Within 6 months
Within 4 months
Within 2 months
How ast are propert es n Munster se ng?
Average house price by area, 2006-2016.
How have house prices changed?
Cork City Limerick City Waterford City Rest-of-Munster
Q1
2006
Q1
2007
Q1
2008
Q1
2009
Q1
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
€50,000
€100,000
€150,000
€200,000
€250,000
€300,000
€350,000
€400,000
The Daft.ie House Price Report – 2016 Q1 | 1817 | The Daft.ie House Price Report – 2016 Q1
Fewer properties
There were 8,200 properties for sale in Munster
in April 2016, the lowest total on the market since
March 2007.
Speed of sales improving
Just under half (47%) of all properties in Munster
nd a buyer within four months, up from 38% twelve
months ago.
Prices now match ask
The average transaction price in Munster is now in line
with the original list price, compared to 2.7% below a
year ago.
Rural price growth
Having fallen slightly in late 2015, list prices outside
Munster’s three cities rose by close to 5% between
January and March.
8/18/2019 q1 2016 Daft House Price Report
11/12
Connacht/UlsterRapid growth in list prices in early 2016
LeitrimAverage price: €111,964
Qtr-on-qtr change: 7.4%
Year-on-year change: 15.9%
Change from trough: 30.3%
MonaghanAverage price: €141,700
Qtr-on-qtr change: 6.6%
Year-on-year change: 11.0%Change from trough: 24.2%
CavanAverage price: €133,530
Qtr-on-qtr change: 7.5%
Year-on-year change: 18.3%
Change from trough: 30.0%
RoscommonAverage price: €113,466
Qtr-on-qtr change: 5.1%
Year-on-year change: 8.4%
Change from trough: 23.8%
DonegalAverage price: €132,442
Qtr-on-qtr change: 5.5%
Year-on-year change: 10.0%
Change from trough: 16.5%
SligoAverage price: €114,102
Qtr-on-qtr change: 1.5%
Year-on-year change: 2.6%Change from trough: 8.6%
MayoAverage price: €127,664
Qtr-on-qtr change: 4.6%
Year-on-year change: 5.7%
Change from trough: 14.7%
Galway CityAverage price: €228,222
Qtr-on-qtr change: 2.1%
Year-on-year change: 14.0%
Change from trough: 42.1%
Galway CountyAverage price: €163,039
Qtr-on-qtr change: 6.5%
Year-on-year change: 13.3%
Change from trough: 28.9%
O ne y ea r a go Pr ev io us q ua rt er C ur re nt q ua rt er
Proportion of properties marked as sale agreed and withdrawn, 2012-2016.
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Within 6 months
Within 4 months
Within 2 months
How ast are propert es n Cou g g nnac t/U ster se ng?
Average house price by area, 2006-2016.
How ave ouse prices c ange ?
G al wa y C it y Co nn ach t U lst er
€50,000
€100,000
€150,000
€200,000
€250,000
€300,000
€350,000
€400,000
Q1
2006
Q1
2007
Q1
2008
Q1
2009
Q1
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
The Daft.ie House Price Report – 2016 Q1 | 2019 | The Daft.ie House Price Report – 2016 Q1
Further supply falls
There were just 6,500 properties for sale in Connacht
and Ulster in April 2016, the lowest total on the
market since February 2007.
Half sell within four months
More than half (52%) of all properties in Connacht-
Ulster nd a buyer within four months, up from 42%
twelve months ago.
Prices remain above ask
The average transaction price in Connacht-Ulster is
now 2.4% above the original list price, up from 1.1%
above a year ago.
5%+ gains in 3 months
In six counties across Connacht and Ulster, prices
rose by more than 5% between January and March -
compared to just 2% in Galway city and in Sligo.
8/18/2019 q1 2016 Daft House Price Report
12/12
Over the last 10 years,
Daft.ie has collected a vast
amount of data on the
Irish property market. In2014 alone, over 140,000
properties for sale or rent
were advertised on the site.
About the Report
Over the last number of years, Daft.ie has collected
a vast amount of data on the Irish property market.
Each year tens of thousands of properties for sale
or rent are advertised on the site.
The goal of the Daft Report is to use this
information to help all actors in the property
market make informed decisions about buying and
selling. In addition, because it is freely available,
the Daft Report can help inform the media, the
general public and policymakers about the latest
developments in the property market.
This is the Daft.ie House Price Report, the partner
to the Daft.ie Rental Report, which will be issued
next month. Together, they give house-hunters and
investors more information to help them make their
decisions. These twin reports mean that Daft is
the only objective monitor of trends in both rental
and sales markets on a quarterly basis, making the
report an essential barometer for anyone with an
interest in the Irish property market.
The Daft Report was rst launched in 2005. It has
already become the denitive barometer of the
Irish rental market and is being used by the Central
Bank, mortgage institutions, nancial analysts
and the general public alike. The Daft.ie House
Price report is Ireland’s l ongest-running house
price report, combining information from the Daft.
ie archives with data from Ireland’s Residential
Property Price Register.
Methodology and Sample Size
The statistics are based on properties advertised
on Daft.ie for a given period. The regressions used
are hedonic price regressions, accounting for all
available and measurable attributes of properties,
with a Cooks Distance lter for outliers.
The average monthly sample size for lettings
properties is over 10,000. Indices are based
on standard methods, holding the mix of
characteristics constant, with the annual average of
2012 used as the base.
About Daft.ie
Daft.ie is Ireland’s largest property website with
over 1.9 million unique users of the site generating
over 180 million page views each month.
Disclaimer
The Daft.ie Report is prepared from information
that we believe is collated with care, but we do
not make any statement as to its accuracy or
completeness. We reserve the right to vary our
methodology and to edit or discontinue the indices,
snapshots or analysis at any time for regulatory or
other reasons. Persons seeking to place reliance on
any information contained in this report for their
own or third party commercial purposes do so at
their own risk.
Credits
Economic Analysis: Ronan Lyons
Marketing and Communications: Martin Clancy
Layout and Design:
Derek Jones, Dara Gannon & Sheila Rodgers
Coming next:
The Daft.ie Rental Report
2016 Q1, in May 2016.The Daft.ie Rental Report will be published in May and w ill include a review of the performance
of Ireland’s rental market in early 2016, plus all the usual indices, snapshots,
trends and rental yield analysis, providing analysts , tenants, landlords, students
and the public with the most up-to-date information on Ireland’s rental market.
All data is Copyright © Daft Media Limited.
The information contained in this report may only
be reproduced if the source is clearly credited.
Please contact Daft.ie on 01-4218700 for further information.
21 | The Daft.ie House Price Report – 2016 Q1