Property Report November 2021

The average asking prices of second-hand homes in Dublin fell last month, according to latest research.

 

Figures published by Ed Dempsey & Associates estate agents show that asking prices fell an average of 6.7 per cent in November across all types and sizes of second-hand properties

 

Asking prices for one, two, three and four-bedroomed properties all declined, with only homes with 5 or more bedrooms registering a marginal increase.

 

The decline in asking prices was seen in areas both north and south of the Liffey and across apartments and all types of houses.

 

The findings are published in the Ed Dempsey & Associates Property Report, which compares the listing and completed sales prices for all second-hand properties in the Dublin market each month. The report also provides comparative data on the number of properties being listed for sale each month.

 

Key findings in the EDA Property Report for November include:

 

  • The average asking price of a one-bedroom property fell 4 per cent from €276,568 in October to €265,359 in November
  • Asking prices for two-bedroom properties dropped 4.5 per cent from € 356,890 to € 340,809
  • Asking prices for three-bedroom properties dropped 8.4 per cent from €480,845 to €440,528
  • Asking prices for four-bedroom properties dropped 17.5 per cent from €834,117 to €687,951
  • Asking prices for five-bedroom properties increased 0.5 per cent from €1,595,714 to €1,603,333

 

Data contained in EDA Property Report shows that prices for second-hand properties in Dublin have fluctuated in recent months, however, November was the first time that decreases have been shown in so many sectors.

 

The report also found that in some areas average asking prices exceeded average prices for sales that completed in November, including in south County Dublin, west County Dublin, and parts of north Dublin.

 

Ed Dempsey, principal at Ed Dempsey & Associates estate agents, said: “The data in the EDA Property Report provides an interesting insight into second-hand property sales in Dublin. It reflects what estate agents have been seeing over the last two to three months, which is a levelling of demand in certain sections of the market. However, this is not uncommon for this time of year and it will be interesting to see if a trend emerges in the new year.

 

“It is worth noting that the market is still strong and expectations remain understandably high among sellers – but there are indications that buyers are starting to show more caution and estate agents are having to reflect this in their asking prices. In some instances, prices have been lowered to attract buyers but frequently those same properties then go on to sell for prices in excess of the original asking price.

 

“If the market is becoming price sensitive then it is more important than ever that the price of a property is pitched at right level to maximise its market and ultimately achieve the best possible sales price.”

 

Read the EDA Property Report. (link to download)

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