The Central Statistics Office reported an 8.7% increase in residential property prices in the year leading to December 2024, albeit a slight drop from the previous month's rate. This marks the 16th consecutive month of rising property values. Dublin experienced an 8.3% increase, while areas outside Dublin saw a 9% rise. The median price for a home reached €355,000, up significantly from previous years. Factors such as a lack of available homes and government initiatives like Help-to-Buy are sustaining strong demand and pushing prices higher.
In December 2024, 5,177 dwelling purchases by households at market prices were filed, up 2.3% compared with December 2023.
A chronic shortage of homes to buy combined with demographic changes is keeping demand strong, sending prices up.
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