The typical asking price for property in Ireland has increased by 4.2% annually, the house price report from MyHome.ie. has revealed.
On a national basis asking prices stand at €284,000.
The author of the report, Conall MacCoille, chief economist at Davy, said: “All the data suggests that housing market activity should bounce back rapidly once the restrictions are lifted.
“Mortgage approvals in January were up 12% on the year, with the average approval up 8% to a fresh cyclical high of €256,000. So, there is no evidence of tightening credit conditions holding back homebuyers.”
Prices have seen bigger jumps outside of Dublin, as growth stands at 4.8% outside the capital to €236,000.
Not that asking price growth has been sluggish in the city, as prices increased by 4.1% to €396,000, while they’ve also risen by 1% from the previous quarter.
Angela Keegan, managing director of MyHome.ie, said: “Traffic through the MyHome.ie website is up 13-30% on different metrics, such as users, sessions and page views.
“As such, it is crucial that the construction sector be allowed to return to normal activity in order to address this obvious demand and safeguard the market as we emerge from Covid.”
