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ASKING PRICES FOR homes nationwide is up 7.3% over the past year, the fastest rate of inflation in close to two years.
That’s according to the Q2 2024 MyHome.ie Property Price Report which has been released today.
The median asking price for a home nationwide in Q2 of this year was €365,000 – that is a quarter-on-quarter increase of 5.1%, and a year-on-year increase of 7.3%.
In Dublin, the median asking price is considerably higher, though the rate of change is slightly lower across the year.
The median asking price in Dublin is €465,000, a quarterly increase of 3.3% and a yearly increase of 7.2%.
But excluding Dublin, the inflation is at its highest – the median asking price excluding Dublin is €310,000, a quarterly increase of 6.7% and a yearly increase of 7.6%.
The report was carried out in association with Bank of Ireland, and its chief economist Conall MacCoille noted that the supply situation “remains very difficult”.
Just 12,500 properties were listed for sale at the end of June, down 11% on 2023’s figures.
There were 9,967 new listings for sale in Q2 of 2024, which is down 4.3% on the same period in 2023.
MyHome.ie stated that this poor supply, in addition to higher average earnings and higher mortgage approval values, is driving asking-price inflation.
As of Q1 of this year, average earnings were €50,300, a rise of 4.7% in the year.
Meanwhile, the average mortgage approval in April was €313,000, up 4.6% in the year.
The report also found that in May of this year, houses were being sold for 6% over the original asking price – the year previous, the premium paid was just 1%.
However, homebuilding activity is positive, with 32,121 housing starts in the first five months of the year.
“The fierce competition between homebuyers has continued into the second quarter, with residential transactions in May being settled by 6% on average above the original asking price,” said MacCoille.
“The second quarter of the calendar year is particularly important for asking prices, set ahead of the busy summer trading season, before the market cools heading into the winter.
“The momentum in the market means a high single digit gain in the order of 5-6% for the year in full now looks likely.”
Meanwhile, Joanne Geary, managing director of MyHome.ie, said that the “strength of our labour market is of course a positive thing, but without an adequate supply of properties to meet the demand generated by rising incomes, it is inevitable that competition will remain intense”.
“It will take time for the growing rate of housing starts to have a real impact, but it is promising to see this figure move in the right direction.”
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I’ll finally have some respect for Harris and MM if they can get this done…..lots of Israel supporters are putting operation fear in motion.the latest is the EU will crush us last week it was the US…..
It’s a clever bill shows our solidarity and it’s the right thing to do..the Arab world will certainly take note…
@David Cotter: Lots of realists are highlighting the potential loss of billions to the Irish economy. We do, at most, €1.5 million in trade with companies in the disputed territories. The bill has zero tangible benefits for Palestinians. It’s the equivalent of student union politics for instagram. Trump is currently eyeing our FDI for repatriation to the US – compounding this with US state and federal laws that would be triggered by this bill would amount to the greatest single act of national self harm by any goverment.
Your solidarity won’t replace the billions that were sacrificed so we could stop 1.5 million in trade.
@honey badger:
Thought you’d be first badger to go again with operation fear
f#€k you’re money….children are being slaughtered
@David Cotter: The bill won’t help anyone in Gaza. The bill won’t help anyone in the disputed territories. The bill will help it’s authors feel good. The bill threatens our economy with the loss of billions. It’s definitionally an act of national self-harm. F#€k your own lack of foresight.
@honey badger: so it’s the money/economy again…my god try really try not to think of your selfishness for once
@Dave G Doe: is that you bibi…
@David Cotter: badger is right though. Why run the risk of sacrificing ones own economy for a war you’re not even involved in. As bad as it sounds, first look after your own people before helping others.
@Michael Ryan: your not a (we will fight them on the beaches)type of man are you Michael
@Tired Jim: phew…wasn’t sure if I was on th the right side of this argument….now thank you jim I know I am
@David Cotter: You soound like a Brexiter with your project fear and we can see how thats worked out for them.
@David Cotter: ‘Jim’ and ‘Dave’ are two profiles of the same troll: an extremely low person.
@David Cotter: … an extremely low person who lies a lot.
@honey badger: Israel’s economy is on the brink, the less money they have to fund this genocide the more pressure they feel to stop.
If we can’t conscientiously object without fear of reprisal by the country bankrolling them, then we are not free either
@Michael Ryan: “so look after your own people before helping others”. Does that apply to Ukraine as well? Ireland could save billions on gas and oil by trading with Russia. So should we trade with Russia and look after our own?
@David Cotter: There is no reason for Ireland to join with that other basket case government that cannot even keep the lights on in South Africa and also make us an outlier in the EU.
Getting involved in the ME dispute is like crossing the road to intervene in a fight between two rival gangs. It has nothing but danger and no upside.
The OTB is more like students’ unions type posturing by the unemployable left that ignores the reality of where their dole payments come from and recklessly want to pišš off our biggest trading partner and creater of employment.
Ireland could have acted in the role of an honest broker in this dispute instead of throwing our lot in completely with the side that elected terrorists to run their territory and squander billions in foreign aid.
@Michael Ryan: we are not ar war with Russia but it has cost us hundreds of millions in added energy prices and trade.
Yes I am against the invasion but why retaliate to one and not the other?
This bill should have been enacted years ago. The stealing of land from the Palestinian people hasn’t just been going on in recent years, it’s been happening since 1948. As Irish people, we’re well aware of the problems a plantation can cause, having had nearly 400 years of it in our own occupied northern counties. The likes of Regina Doherty would sell out the indigenous people of Palestine, just like she sold out her own country men and women. Her likes are once again on the wrong side of history.
@Anthony Curran: in 1948 Arabs in the region, tried to forcibly take land that Jews had legally purchased. It backfired, and many Arabs in turn were forced or fled from their land. That’s the context.
@Fran Ken: jeez Fran, ya can’t be saying that on here!! None of the pro Palestinians want to hear the truth !
Of course ot will be watered down.
What now for Harris and Martin, will they propose a bill on the illegal occupation of Tibet by China? I wonder why that won’t happen.
@AnthonyK: Occupied territories bill applies to business with all occupied territories around the world, not just Israeli settlements
@AnthonyK: “THE GOVERNMENT HAS been urged” needs to be clarified. WHO is getting at our politicians ? When no names of the mysterious urgers can be given it sounds like threatening behaviour that should be exposed. Stockholm syndrome fear of dealing with Hamas supporters should be investigated by our balanced Media.
Totally unworkable wokery from the pro Palestinian sheeple..
How are they going to enforce it ? What if a tiny component of a bigger product was to originate in an occupied terrority ? Is that gonna mean it will be boycotted .
Remember, if you are using an iPhone, chances are it’s full of Israeli tech .. Google Maps has lots of Israeli tech, so are we going to boycott that ? How do we know specifically what comes from the disputed ‘occupied’ areas.
Our friends in Washington will not be pleased with us annoying their closer friends, the Jews.
All this virtue signalling is all fun and games until Mr Zuckerberg (himself a jew) tells us to F off and takes his facebook off elsewhere and puts 1000s outta work and deprives the taxman of Billions..
How d’ya like me now ?
The misreading of history is causing death The ambitions of Islam have met the survival imperative of the Jewish people not to be slaughtered. We already got the two State solution to settle this peacefully when 72% of Palestine was allocated to Arab Palestinians which is called Jordan and 22% to Palestinian Jews called Israel should be respected and maintained .
@thomas molloy: Blaming Muslims for this mess when we all know it’s the brits and germans to blame is wild
@thomas molloy: Jordan is not the second state outlined in the two state solution. A solution which, by undermining the Oslo accords Israel and the US has demonstrated they only pay lip service to as a political football to advance the occupation
@Hayagriva: ypu do realise theboslo accords, Israel agreed to pay the vat on all purchases by Palestinians to the Palestinian government and that money ended up in the great yassir arafats personal account. At the time of his death he had ovwr 1.3billion ib money and assets, including property in tbe USA.
@James Brennan: Even if that was true, it doesn’t change the violations Israel has committed
I’m shocked about the amount of misinformation in the comments and the amount of people willing to let children die for a few euro in their own pocket.
@Trump24: disgusting comment, hope you get banned for that one.
@Hayagriva: It’s a fact they need time to finish the job.
Bin it all together there is absolutely no need for this woke nonsense
@Dave G Doe: Absolutely 100% they need full support in wiping out their enemies
The ideals of the 1916 leaders led them to take on what seemed to be an impossible task and Ireland became an example to the world.
Let Ireland now take on an impossible task and once again become an example to the world, not for Irish freedom but in the name of humanity.
@michael powell: The 1916 rising was of very questionable benifit unless you believe the gorilla war of independence wouldn’t have happened without it.
Either way, it is simplistic to try to make comparisons with Israeli whilst ignoring every other conflict in the world.
All this needs to be done under the umbrella of the EU, don’t let the left clowns throw the Irish economy under a bus.
@Dave G Doe: Hopefully
@Dave G Doe: And flying the Hamas flag on Govt buildings. Disgraceful and an international embarrassment.
Israel isn’t going to stop doing what Israel is doing. The killing might stop but the agenda remains. They are trying to steal the Millennium Kingdom out from under your noses.
I know that sounds ridiculous but they’re using Bible Prophecy as a script. That way they can claim Devine Providence even though we were told not to force prophecy.
The Governments of the world are complicit, Rome is complicit, Jerusalem is complicit and Mecca is complicit in it.
They’re going to present the world with a Messiah, a false one, the ground work having being laid down over the last 40 years or so.
Everything has been leading up to this moment. The real one tried to stop them but they just laughed at him. Kicked him back down and pushed on with their plans. Unfortunately the worst is yet to come.
@Séamas Mac Cárthaigh: I think you’ve summarised the situation perfectly, and I, too, believe that nothing will change as mankind doesn’t have the ability to change. Religion is used to justify these wars and have done it since the beginning of time, to what end ?
I doubt very much a new” Messiah ” will rise from anywhere, but mankind has the abilities, if it wants to, to fix all these wars and all the other issues we face. But when people like Trump get elected on a message of hate and division it’s not looking like anything will change fir the better.
50% of Democratic countries had elections in 2024 and the same people/ideologies were re-elected.
@Séamas Mac Cárthaigh: And here’s me thinking that conspiracy theorists and cranks never comment on any Journal stories.
If Trump reacts to Ireland passing a moral and righteous bill, I will travel down to Doonbeg and take a hit-n-miss and a ‘Donny Trump’ in every hole in his golf course.
@Paul whitehead: They don’t let poor people in thankfully so you won’t be doing that.
Israel will be victorious
@Liam Money: Yes. Israel forever.
Will someone tell the government that woke is on the way out .
Let’s hope that some sort of common sense prevails and the government scraps their nonsensical and divisive bill and end their hateful obsession with Israel. Harris and Martin already got a clip around the ear for their unqualified anti-Israel blabbing before the election was held. It’s a useless and partisan bill which has no basis in both history and the present day. We need to be supporting the only democracy in the Middle East, not attacking it in an uneducated and vitriolic manner for no reason except to score cheap political points.
I have reported a number of comments here. Those alleging some kind of Jewish control of the world have been deleted as have some of them calling for Gaza to be wiped out but there are still a good few left referring to people as subhumans. I am no supporter of Hamas but this is not acceptable political discourse and has clear genocidal undertones. On what basis can these comments be allowed to stand when a comment alleging that the Jews control all of the banks was (rightly) deleted?
Disgusting to see the Hamas flag flying on Govt buildings.
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