The number of property sales in Cork rose by 5.9% in 2019 compared to the year before, though there were 2.2% fewer in Dublin, MyHome.ie’s analysis of the Property Price Register has revealed.
The Republic of Ireland economy is set to grow at a slower rate next year, economist Petrox Petros Varthalitis of the Economic and Social Research Institute has predicted.
Annual Irish house price growth slowed to a more than six-year low of 1.1% in September as the number of homes built in the third quarter rose 22% year-on-year in a long overdue supply response, data showed on Thursday.
Asking prices in Ireland increased by just 0.3% year on year in the 12 months to the end of September and fell by 2.8% quarter on quarter, and are expected to reach zero by the end of 2019.
There was a 1.2% rise in residential property sales in the commuter Counties around Dublin in the first half of 2019, but transaction values fell by 0.6%, the latest analysis shows.
The national average re-build cost in Ireland has increased by an average of 6% over the past 12 months, according to the latest house rebuilding cost guide.
Property prices in Ireland are still rising, up 2.3% in the year to July 2019, but down significantly on the 10% rise recorded in the 12 months to July 2018, the latest index shows.
There has been a significant shift in consumer sentiment regarding house prices In Ireland in the last year, with nearly twice the number of people believing prices will fall over the next 12 months.
Residential property prices increased by 2% in Ireland in the year to June 2019, down marginally from the 2.6% recorded in May, official data shows.
After years of steady price growth, Dublin is seeing a market cool-down as new lending laws begin to have an effect.
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