Value of Prime Market Sales in Dublin increased by 8% in 2016.

Image result for house sales

An analysis of the Property Price Register, as of the 11th January 2016, has shown that there were more than 12,000 residential property transactions recorded in Dublin in 2016, with over €5 billion worth of properties changing hands. The average price of a property in Dublin at the end of 2016 stood at €407,324, compared to €372,897 in 2015, representing an increase of 9%.

For those looking to enter Dublin’s prime market, defined as the top 5% of the market, one would have had to purchase a property in excess of €885,000, an increase of 5% on the €840,000 that would have bought you access to the prime market in 2015. Higher prices in 2016 resulted in the total value of sales increasing by 8% bringing the prime market’s share of the total Dublin market to 18%. The analysis also provided some insights into what areas in Dublin are in most demand from prime residential buyers. Demand for homes in Dublin 4 and Dublin 6 appear stronger than ever, with both areas increasing their shares of the total value of the prime market in 2016. Dublin 4’s market share increased from 19% to 26%, while Dublin 6 increased from 14% to 17%. However, the most popular area remains South County Dublin with the area accounting for 27%, down from 29% in 2015.

For those looking to enter Dublin’s super-prime market, defined as the top 1% of the market, one would have had to purchase a property in excess of €1,800,000, an increase of 29% on the €1,400,000 that would have bought you access to the super-prime market in 2015. The total value of sales increased by 8% bringing the super-prime market’s share of the total Dublin market to 7%. The outstanding performer of the super-prime market was Dublin 4 which doubled its share of the total value of the super-prime market from 19% to 40% in 2016, outperforming South County Dublin who obtained 25% of the market. Despite having the largest sale of the year, Dublin 6 conceded market share, falling from 16% to 14% in 2016. The top ten transactions of 2016 are included in the table below.

 

Knight Frank

Leave a Reply Text

Your email address will not be published. Required fields are marked *