"House prices rose by an average of 0.8pc in the three months to September, according to the latest Daft.ie property price report. But despite the easing of property inflation, home prices have shot up so much in the past few years that thousands of potential buyers are priced out of the market. Daft.ie said the average price of a three-bedroom semi-detached house is now just over €421,000. Asking prices are now almost 6pc higher than a year ago, and 39pc above their pre-Covid levels."
"Chairperson of the Land Development Agency, Cormac O'Rourke said recently that up to 70pc of income earners in the State are effectively priced out of the housing market in terms of both rents and house prices. Those earning up to €68,400 a year cannot afford the average market rent or the average purchase price of a home without state support, he said."
"Daft.ie said there has been a slow-down in the rate of property-price rises, particularly in Dublin. Prices in the capital were up by 4.5pc in the past year, compared with an ­average of almost 6pc across the rest of the country. In Munster prices were up 5pc annually, and rose below the national average in Cork, Galway, Limerick and Waterford. But there were rises of close to 9pc in the area outside Galway city, and a rise of 7.2pc outside Dublin."
House prices increased by an average of 0.8pc in the three months to September. The average price of a three-bedroom semi-detached house is now just over €421,000. Asking prices are almost 6pc higher than a year earlier and 39pc above pre-Covid levels. Home values are now about 10pc below the Celtic Tiger peak. Up to 70pc of income earners are effectively priced out of the housing market for both rents and purchases, and those earning up to €68,400 cannot afford average rent or purchase without state support. Price rises have slowed, especially in Dublin, while second-hand listings total 11,925, well below 2015–2019 averages.
Read at Irish Independent
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