| 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 21, 2014 - 4:51 AM


Dublin house sales at 10,000 in 2013; 246 sales at €1m+; Lowest at €6k
By Michael Hennigan, Finfacts founder and editor
Feb 20, 2014 - 4:31 AM

Email this article
 Printer friendly page
The rear view of Walford, Shrewsbury Road, Ballsbridge, Dublin, the former home of Seán Dunne, the bankrupt developer, sold in March 2013 for €14m. Dunne is believed to have paid €58m in 2005 for the 1902 building.

A new study based on an analysis of the Property Price Register shows that the number and value of transactions in Dublin rose substantially during 2013. The study reveals that the number of house sales in the capital last year rose to 10,000, an increase of 17% on 2012. There were 246 sales in Dublin for €1m or more. Meanwhile the lowest price achieved was €6,000 in respect of a house in Marino

The study says Dublin clearly dominates the market as it accounts for over a third of the 29,200 houses sold in the country last year. However house sales outside Dublin are also up 17%, driven in the main by increased sales in Cork, Limerick and Galway.

The research, which was carried out by MyHome.ie, the property website operation, also found that €3.6bn was spent on property transactions in the capital last year. This was 34% more than was spent in 2012.

The most popular areas to buy property were Dublin 15 (697), Dublin 14 (649), Dublin 16 (605), Dublin 18 (522) and Dublin 6 (512).

The biggest one off residential sale in 2013 was that of Walford, Shrewsbury Road in March for €14m. In total there were 246 sales in the capital last year for €1m or more. At the other end of the scale the cheapest property was number 15 St Aidan’s Park in Marino Dublin 3 which sold for €6,000 in June. A large number of properties in the Phoenix Park Racecourse development sold for €8,000.

Dublin 10, which covers Ballyfermot and Cherry Orchard , was the only postcode to show a fall in the level of transactions, down 5% compared with 2012. However the level of transactions was virtually unchanged in Dublin 14, Dublin 20 and Dublin 5.

Angela Keegan, managing director, MyHome.ie, said it was clear the property market turned a corner in 2013 it was very clear that the market needs a much higher level of transactions.

“While the increase in the level of transactions is most welcome in Dublin and nationally the current number of sales transactions represents just 1% of our housing stock. The comparable figure in the UK is 4%. So we are still clearly in the early stages of recovery” Keegan said.

She also expressed concern about the supply shortages in some parts of Dublin which is clearly driving prices.

“Right now there are less than 3,000 properties available for sale in Dublin. This compares to 6,000 this time two years ago. To maintain affordability and meet growing demands the Government needs to move quickly to ensure an adequate supply of properties is available across the city. Priority needs to be given to obtaining planning permission for sites where there is a market demand for homes” Ms Keegan said.

The top 10 localities to buy properties last year were: Castleknock (304), Lucan (297), Rathfarnham (249), Tallaght (228), Finglas (225), Swords (212), Blackrock (209), Dun Laoghaire (187) and Clondalkin (175).

Maps of Dublin by postcode with increase/decrease of transactions and increase/decrease of transaction values in 2013 along with key info graphics are available here.

Check out our  subscription service, Finfacts Premium , at a low annual charge of €25

Frank McDonald of The Irish Times gives a tour of Ireland's most expensive house, Walford, on Shrewsbury Road, Dublin.

Related Articles
Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

Property
Latest Headlines
Irish residential rents rise 9% as students face tight market conditions
Irish construction activity growth eased in July
Irish residential property prices fell in Dublin in June
Irish mortgage approvals growth fell sharply in April 2015
Irish land prices among highest in world; Noonan tax cut boosts Dublin prices
AIB cuts Irish variable mortgage rates
Dublin residential property prices rose by 1.1% in March
Global property bubble: Dublin tops 2014 global returns at 44.7%
New Irish housing units in 2015 forecast at only 10,000
Ireland: Dublin house prices up 21% in year to February 2015 after price decline in month
Prime office rents in Dublin to rise by up to 31% in 2015 after 29% surge in 2014
Irish mortgages paid in 2014 at 1976 level; Half of house sales paid in cash
Irish residential property prices fell 1.4% nationwide in January
Irish House Rents: Supply tightens in Dublin's commuter counties in Q 42014
Irish commercial property returns in 2014 among highest in world
Irish Housing: "Unique" demographics to boost demand; Shortages to rise
Irish mortgage approvals in 2014 at 36-year low; Exceed paid loans
Irish commercial property investment in 2014 was 25% above bubble peak in 2006
Irish construction continues to rise from very low base
Irish house asking prices fell back slightly in fourth quarter of 2014
Price/Earnings multiple for Dublin houses is double 1993 level
Residential property rents up almost 10% in Dublin in past year
Irish Government and vested interests lobby for easing of Central Bank's mortgage rules
Ireland tops global property price rankings six years after bust
Number of Irish mortgages paid in 2014 at 1974/75 level - a 40 year-low
Irish construction PMI survey confidence measure highest since 2000
Irish mortgage arrears decline; 38,463 BTL accounts in arrears
Irish Housing: Renting provides less security than ownership, unpredictable rents
Ireland: NAMA to redeem €1bn of senior bonds; Fund Boland’s Mill site development
Ireland: 35,000 social housing units by 2020 achievable; Rental market possibly not
Dublin house prices up 24.1% in year to October 2014
Irish home ownership to fall due to affordability
'Tara Collection' of office buildings on sale in Dublin for €263.8m
Irish Housing Rents 2014: Dublin just 10% short of 2007 bubble peak
Irish Economy: Residential mortgage approvals in 2014 as low as in 1977
Irish Construction: Fastest rise in new business for decade - not level of activity
Biggest US individual landowner responds to tax breaks in Ireland and UK
Irish commercial property annual return to September 2014 at 36.6% - income at global high
NAMA expects surplus of less than €500m - it's not a profit; 88.5% sales to US investors
NAMA selling 588 Dublin apartments - name withheld in announcement