Residential real estate prices as of December 2024 showed a full-year increase rate of 8.5%, reports Breaking News.
According to recent Davy study, given the steadily growing availability of real estate for sale, they anticipate a significant slowing in monthly price rises as compared to 2024.
Given the economy’s ongoing growth, substantial fresh and pent-up demand, an expansionary fiscal policy stance, and declining interest rates, the fundamentals predict increased home prices, reports Breaking News.
Prices for residential real estate increased by 8.5% in 2024 and 8.7% in December on an annual basis, which was less than the 9.6% growth in November.
Given that H2 frequently sees month-over-month price rises, the 2024 full-year figure is consistent with our prediction from five months ago, reports Breaking News.
In December, prices in Dublin remained unchanged month over month, but prices in other counties saw a robust 0.8% increase.
The full-year rise in 2025 would be 4.2% if prices remained unchanged from December’s level this year; we predict growth of 7%.
Strong price rises were the primary cause of the 10% quicker growth in transaction value, reports Breaking News.
Transaction values for existing homes are still much greater than those for newly constructed homes.
December saw a 2% increase in the volume of sales, with new real estate transactions expanding at a quicker rate than existing properties, albeit from a lower starting point, reports Breaking News.
Overall, Ireland’s housing market still lacks liquidity, with houses selling on average every 44.5 years in 2024 as opposed to every 42.6 years in 2023.
For the most of this year, we anticipate that fresh supply will only rise modestly; but, as we previously pointed out, the outlook for increased activity improves if a number of changes are put into place, reports Breaking News.
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