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Number of properties on the market 'at lowest level' since 2007

A new report puts the average national asking price at €195,000.
Oct 6th 2014, 6:30 AM 8,851 13

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THE AMOUNT OF properties on the housing market is at its lowest level since 2007, a new report has found.

The figures also show that prices have risen by 14% over the past year, largely due to a 25% increase in the capital, with the average national asking price now standing at €195,000, up €25,000 from a year ago.

This average price is now just over half of the €380,000 peak during the boom years.

The findings are contained’s Q3 House Price Report, published this morning. A separate report published last week recorded a similar national asking price of €191,000. economist and report author Ronan Lyons said there is the concern is that this dramatic supply shortage “is now feeding into expectations”.

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“While price rises driven by shortages can be stopped by increasing supply, tackling price rises driven by expectations is significantly trickier,” Lyons said.

The report also conducted a survey of 1,000 potential home buyers, and found that they expect prices to rise in Dublin by as much as 12% over the next year.

There’s also an expectation that prices across the country will continue to rise by as much as 6%.

Over the course of the past year, prices have risen by 18% in North County Dublin and 29% in Dublin city centre.

Surrounding counties also recorded a double-digit increase.

Prices roses by 11%, 13%, and 3% in the cities of Cork, Galway, and Waterford respectively, while Limerick prices continued to fall, with a decrease of 4%. is part of Journal Media Ltd, which has some shareholders in common with shareholders in

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Nicky Ryan


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