DNG report rise in Dublin house prices

DNG report rise in Dublin house prices

Dublin house prices have seen their first quarterly increase in six years, according to estate agent DNG.

Prices rose by an average of 3.1 per cent in the last quarter (August-October), DNG said.

In the same period in 2011, the average price of a resale property in the capital fell by 5.6 per cent.

Keith Lowe, managing director, DNG said it was too early to call the absolute bottom of the market for all property types in all areas of Dublin.

But he said the results “add further weight to the argument that the market in 2012 has proved flat in terms of price movement at the very worst and in some cases prices have moved away from their low point, at least for the time being.”

The west of city fared better at 5.1 per cent while the northside recorded a more modest 1.2 per cent increase.

Houses in the €250,000 to €500,000 range performed best with a year to date increase of 0.8 per cent. In the last quarter houses in the upper end of over €500,000 increased most in price with a 3.8 per cent rise.

So far in 2012 prices have remained broadly stable.

Since the peak of the market six years ago, residential property has still lost some 65% of its average value.

There is 1 comment for this article
  1. Paddy at 10:31 pm

    DNG, we dont take them seriously, do we?

    Paul Murgatroyd, DNG economist, said in 2006: “We do seem to be moving into a period of soft landing. The downturn, everything will be fine scenario we have been hearing about, it looks like it is coming to fruition. We are moving into a soft landing and stabilising of house price growth, but certainly there is no crash or big dip.”

    Now DNG are rolling-out Keith Lowe to make the 2012 projections. I wonder if he is more accurate than colleague Paul was in 2006?

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