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PROPERTY ASKING PRICES in Dublin maintained a steady rise in the third-quarter of the year while prices dropped in every other county in the state.
Prices in Dublin were up by 7.7 per cent compared to the same period last year with asking prices outside the capital falling 6.7 per cent.
The figures are contained in the latest Daft.ie house price report which showed that asking prices across Dublin have risen for the third consecutive quarter. All of the six different areas in Dublin that are monitored as part of the report rose, the first time since 2007 that this has happened.
Although prices continued to fall outside the capital, the 6.7 decline was the smallest since mid-2008. The biggest falls were observed in north-west where asking prices in Leitrim, Roscommon, Sligo and Galway all fell by double digits.
Map showing the change in house prices (Image: Daft.ie)
Supply shortages
The supply of property continues to be the primary issue across the country with the stock of properties on the market falling by 10,000 over the past year, the second year in a row a fall on that scale has been seen.
First-time buyers in Dublin have been delaying their purchases over the past number of years according to Trinity College economist Ronan Lyons, who says what were are now seeing is those buyers becoming active and stimulating the market.
Concerns about a new bubble emerging in Dublin are probably overstated however he says, “Ultimately bubbles can only emerge with loose credit, and there are few who would argue that the housing market in Dublin is cursed with easy money.”
The demand that has been awoken can be seen in the report which shows that two-thirds of Dublin properties find a buyer within four months, up from 56 per cent a year ago. Lyons explains the current state of play in Dublin:
What we are witnessing is something like the lancing of a boil. For almost five years, a significant chunk of would-be first-time buyers based in Dublin held off making a purchase, enjoying not only falling prices while they did but falling rents for the early years also. And they saved. Then, probably due to a combination of the end of mortgage interest relief, rising rents and starting their own families, they started to buy.
Lyons’ concern is not another credit-fuelled bubble in the capital but the fact that Dublin is not building enough housing units. A consistent supply would stop prices in the capital rising again to unsustainable levels he says:
A city of almost half a million households is building only slightly more than 1,000 units a year. This is probably one tenth of the number of new homes it needs. Available figures suggest that there are about 10,000 first-time mothers in Dublin each year.
The full Daft.ie house price report can be downloaded here.
(Note: Daft.ie is part of Distilled Media Group. Journal Media Ltd has shareholders – Brian and Eamonn Fallon – in common with Distilled Media Group)
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How about debating medical card holders not pension holders paying 10 euro per doctor visit. When your paying 55 quid per visit and you can’t see a doctor for 3 days because he’s booked solid with medical card holders with colds and aches blocking up the system.
If they were charged they wot be visiting until they need to like the rest of us.
@Funfair: that’s a question for the government to answer not a trade union conference
@Boganity: why is a trade union conference debating our drink driving laws then ?
@Funfair: because doctors are reminicing the old irish local junta system. The doctor, the priest and the garda seargent that kept all the peasants in their place. They still have the ear of government and think by virtue of a few years in trinity they should set policy. Drink driving needs to be tackled, but we have a government getting paid to do that.
@Funfair: it’s not pension card holder or medical card holder blocking up the waiting room..but women with there kids .kids with nothing wrong with them..except for a cough or runny nose..
@mad_fluffy: which are mostly medical card holders …
Why make these laws & then debate them, drink driving should be a ban at all times. People know the law & some people are willing to drink & drive. If they take the chance they should be prepared to take the punishment!
@Liam John Bradshaw: and what’s it got to do with doctors or their trade union conference
@Boganity: they brought it up
All EU countries ban drink drivers – and we should be no different.
Being tired behind the wheel is even worse than having one drink ,twelve hour night shifts ,!
@Gerard Heery: has this scientific finding of yours been peer reviewed ?
@Boganity: poking figurative holes in someone’s argument would be best backed up by an informed rebuttal of your own, Bog…
@Gerard Heery: as someone who works 12hr night shifts I completely agree..i put it in the same bracket as having about 6-7 drinks
@Boganity: it happens all the time but theres no prove ,only to say must of being speeding at three in the morning.
@Boganity: ok I will say in the early Ninetys worked shift and left work completely knackered after 12 hours as did other workers on the shift I’ll leave at that,
Ross should put more effort into enforcing the laws already in place. I’m all for zero tolerance, but what’s the point in this legislation when the guards don’t enforce the current laws with any real regularity (not in rural areas anyway). Not to detract from the issue of rural isolation (not that it’s any excuse for drink driving) but Ross needs to look outside the pale and sort out some decent rural transport links. But, knowing him, that’s probably outside his remit…
@Kian: one death saved is enough to justify the ban, 35 that’s a no brainer
@Boganity: it Is, but he’d save even more lives with better enforcement
@Boganity: the roads are busier than ever a road fatality is enviable.. nothing can avoid that
As the journal fact find article pointed out it uncertain whether the ‘lives saved’ would ever result in any of this kind of action. We have to remember we are addressing issues so infintesmally small in quantity we couldn’t't legislate to eradicate. Fatal outcomes represent 0.0000007% of road activity. Maybe concentrating on mental health issues would have greater effect on society. But sure the corporate which is the RSA, can’t get revenue from that.
@Martin Critten: so what’s an acceptable number of deaths from driving over the limit ?
When did doctors become law makers!
There should be breathalyser kits in each car. So drivers can test themselves before they drive. So no excuses.
If you fail both blood and urine tests then obviously drink drivers should be band. End of story, otherwise why bother testing in first place.
Like to remind Mr Ross and his supporters that text driving has been proven to be more dangerous than drink driving. So why not give them an auto ban? Or what about banning all drivers for distractive driving?
What’s to debate? Automatic ban is a good strategy. Revisit impact in five years to renew or abandon.
Funny thing about all these new laws ,if Kim Un Jong sets off a nuke these laws won’t mean a thing they’ll be alot more worrying issues come to mind like we’re did I put my 1995 iodine tablet.
have your say