Dublin estate agents expect property values to rise by an average of 5.8% this year, according to the 2022 Sunday Times Dublin Property Price Guide. This prediction is more than double the expectation of a 2.5% price rise expressed by estate agents for 2021.
Estate agents across the 26 areas of Dublin city say their main concern is the low levels of residential housing stock coupled with the overwhelming rising tide of demand for all property types. With critically low stock levels set to dictate house prices this year, many of the city’s estate agents believe how the ongoing pandemic is managed will impact houses prices even further.
Several estate agents also report a significant frustration at a lack of new-home schemes in their areas for the foreseeable future with too many scheduled developments involving private investors constructing build-to-rent apartment blocks in 2022.
The Sunday Times Dublin Property Price Guide also reveals that the top five most expensive examples of three-bed houses in Dublin are in the following locations:
1. Ranelagh - €1.15m
2. Ballsbridge - €950,000
3. Rathmines/Rathgar - €950,000
4. Sandymount - €950,000
5. Milltown - €850,000
The top five most affordable examples of three-beds are unveiled as:
1. Neilstown - €200,000-€220,000
2. Ballymun - €230,000
3. Clondalkin - €240,000-€270,000
4. Springfield - €245,000
5. Darndale - €250,000
Primary Researcher for The 2022 Sunday Times Dublin Property Price Guide, Patrick O’Donoghue said, "It is perhaps with little surprise that Dublin’s Estate Agents are predicting price rises and more frustration in 2022. With the rise in value of the capital’s properties doubling since last year, many estate agents are cautious with some optimism heading into 2022. There are a number of factors at play, including government regulations around the ongoing pandemic, critical supply issues and feverish demand. It will be interesting to see how Dublin’s suburbs continue to change in the face of growing demand across the city for what is sure to be a fascinating 2022."
Source: www.businessworld.ie
