| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Property Last Updated: Feb 6, 2013 - 8:02 AM


Irish House Prices: Average prices of family homes in Dublin marginally increased in 2012
By Finfacts Team
Feb 6, 2013 - 7:35 AM

Email this article
 Printer friendly page

Irish House Prices: The average prices of family homes in Dublin stabilised and marginally increased in 2012 while there were further declines in house prices around the rest of the country, albeit at a slower pace than 2011, according to the Society of Chartered Surveyors Ireland (SCSI) annual survey of its estate agent members.

The SCSI Annual Property Survey suggests that average prices of second-hand three and four bedroom semi-detached family homes in Dublin increased by 2.7% and 1.1% respectively in 2012, compared to declines of 12.6% and 13.6% in 2011.

  • In Leinster, the average price of a second-hand 3-bedroom semi detached house declined by 7.7%. This compared with a 16.8% decline in 2011;
  • In Munster, the average price of a second-hand 3-bedroom semi detached house declined by 7.6%. This compared with a 9.3% decline in 2011;
  • In Connacht, the average price of a second-hand 3-bedroom semi detached house declined by 7.1%. This compared with a 15.2% decline in 2011.

The SCSI said that the Mortgage Interest Relief (MIR) deadline stimulated demand in the final quarter of the year and that a lack of supply of family-type homes, particularly in Dublin, led to modest price increases in certain areas.

Roland O’Connell, president of the Society of Chartered Surveyors Ireland said: “How we deal with the legacy issues under our control will have a major bearing on the future of the property market in this country. 2012 was very much a year of transition with increasing levels of both commercial and residential transactional and rental activity being experienced by a growing number of agents in different sectors.

Commercial Property:  According to the SCSI/IPD Index, 2012 was the first year of positive returns for the Irish market since 2007. However, activity levels in the commercial property market were relatively low in 2012, particularly in relation to older stock in secondary locations.

  • In Dublin, rents for prime 3rd generation offices declined to €310 per sq metre in 2012 from €320 in 2011;
  • In Dublin, prime city retail rents declined to €4,135 in 2012 from €4,532 in 2011;
  • In Leinster, prime city retail rents declined to €303 per sq metre in 2012 from €374 in 2011;
  • In Munster, prime city retail rents declined to €907 in 2012 from €974 in 2011;
  • In Connacht, prime city retail rents increased to €1,820 in 2012 from €1,813 in 2011.

O’Connell said that while market rents experienced further declines in 2012, Foreign Direct Investment (FDI) companies were continuing to drive demand. He also said that the lack of supply of new prime stock and the availability of finance remain the key issues in terms of a broader stabilisation in the commercial market.

The Irish Times reports today that the German fund manager GLL Real Estate has bought two shops on Dublin’s Grafton Street for a fraction of the price they made in 2007.

The fund will pay just over €40m for the River Island store and the adjoining Wallis outlet - - a long way from the €115m paid for the investment by Dublin property developer David Daly in 2007. The two buildings have fallen in value by 65% since the property market collapsed.

Agricultural Land: Agricultural land performed well again in 2012 following on from strong performance in 2011. The SCSI survey suggests that the average price per acre with entitlements (up to 100 acres) was €9,768 in 2012 compared to €9,662 in 2011.

The national average for agricultural land now stands at approximately €10,000 per acre with or without entitlements.

Check out our subscription service, Finfacts Premium , at a low annual charge of €25 - - if you are a regular user of Finfacts, 50 euro cent a week is hardly a huge ask to support the service.

Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

Property
Latest Headlines
Global Survey 2006: Cost of comparable house in Dublin, Ireland, could buy 9 in Houston, Texas, 3 in Amsterdam, 2 in Sydney and Tokyo
Irish and UK commercial property markets strengthen in 2014
Irish construction PMI highest since 2006 - number of firms polled withheld
Irish Residential Property Prices: Government wants higher prices
Switzerland reaches for the skies – despite protests
NAMA sells complete Northern Ireland loan portfolio that had par of £4.5bn
Irish House Prices 2014: Daft.ie says prices ex-Dublin up in Q1; MyHome.ie says prices slightly fell
Irish home mortgage approvals in 2014 at 42-year low
Irish House Prices 2014: National prices up 8.1% in year to February
Irish House Rents: Dublin rents up 2.1% in Q4 2013; Down 0.9% ex-Dublin
Irish construction PMI rises from low base; Number of firms polled low
Irish mortgages in arrears 360 days+ at 60,422 - 7.9% of total accounts
Irish House Prices 2014: National annual rise at 6.3% in January; Dublin prices fell to 13.6% increase
Number of Irish home mortgages issued in 2013 fell to a 40-year low
Dublin house sales at 10,000 in 2013; 246 sales at €1m+; Lowest at €6k
London office rents remain world's highest; Dublin at 25th of 67 locations
Irish commercial property returns rose to 12.7% in 2013
Irish House Rents: Up 7.1% in Q4 2013 year-on-year nationally; Dublin rise at 11.2%
Irish Economy 2014: Construction PMI up sharply; Caution on small sample
Irish House Prices 2013: Dublin prices rose 15.7% in year; National prices up 6.4%
Dublin second-hand house prices rose by 17.7% in 2013
UK commercial property returned 10.9% in 2013
Ireland is one of 'hottest' hotspots for European commercial property deals
Irish construction activity rises again in December
Irish industrial property market back at 2007 levels; Blackstone and Google in Dublin office deals
Irish House Prices: Asking prices in Dublin commuter counties stabilised in 2013
Irish House Prices 2014: Dublin main challenge as asking price gulf surges to 28%
Irish House Rents: Average rent in Dublin in Q3 2013 was €1,041
Irish construction PMI in sharp rise; Firm sample likely small
Irish mortgage arrears less than 90 days fall and over rise
Irish House Prices up 15% in Dublin; Mortgages issued at 1974 level
UK taxpayers providing £5bn a year subsidy to buy-to-let landlords
Irish ghost estates to be demolished; Arrears activist group agree pilot scheme with AIB
Irish mortgage affordability index shows rise for Dublin first time buyers
Commercial property outlook improves in Ireland and Spain
Where have all the empty Irish houses gone?
Irish mortgage drawdowns rose in Q3 2013 but remain at 39-year low
Irish House Rents: Nationwide year-on-year rise at 4.8% in Q3 2013
Irish construction PMI in sharp rise; Small sample and no jobs added
75% of 83,000 Irish residential mortgages in arrears of 90 days+ not restructured