Over the past 6 months or so we have noticed a weakening in house price growth especially second hand homes. The number of new house builds coming on stream has finally begun to kick in, giving home buyers more options and, as we all know, supply effects pricing.
Dublin property prices rose by just 1% in the second quarter this year and while they are still rising, it is still a healthy sign that the overheating is going out of the market.
Economist Marian Finnegan’s research (Irish Times, 28th June 2018) showed that new home sales went up a strong 41% in the first quarter of 2018 over the same period 2017.
The Letting market unfortunately has not seen increased supply as yet and rents are still exorbitantly high.