House prices countrywide have risen by €20,000 in one year - almost eight percent - with the largest increases being felt outside the capital.The rise marks the second quarter in a row where prices were nearly 8% higher than a year previously, roughly twice the rate of inflation seen during 2018 and 2019.
In Cork, Galway, Limerick and Waterford cities, listed prices were between 11% and 12% higher in the first quarter of this year than a year previously. “The total number of homes listed for sale in the twelve months to February nationwide was just 45,700, down a third on the previous 12-month period. This sudden collapse in supply – at a time when demand has held up remarkably well – has converted into sharp upward pressure on prices.”
This represents a year-on-year fall of 40% nationwide, although the stock available for sale in Dublin has fallen by less than the national average, while stock for sale in Leinster is down by nearly one half.