Asking prices for houses nationally jumped 13% in the second quarter of the year compared to this time last year. Research has found that listed prices have risen at a much faster rate outside Dublin than in the capital.
According to the Daft.ie report, asking prices are up 18% in Munster, 16.1% in Leinster and 15% in Connacht/Ulster, when compared to the April-to-June period in 2020. In Dublin, list prices were up 8.4% across the same period.
The daft report also shows substantial increases in asking prices between the first and second quarters of the year. Asking prices rose in Dublin by 4%, and outside Dublin by 7.4% between the first three months of 2021 and the second three.
It means that nationally, the listed price for an average home is now €303,000, standing at €412,000 in Dublin and €254,000 outside of Dublin.
Although asking prices are increasing, the supply of homes has remained substantially low. According to Daft.ie, the total number of properties available to buy on 1 June was just above 12,300. That was up slightly from the 11,900 recorded in March, but remains one of the lowest figures recorded since the advertising of properties for sale online first began.
Overall, the total availability of homes for sale nationwide at the start of June was one third lower than the same date a year earlier and just half the amount for sale in June 2019.
It is expected that house price inflation this year will reach 8% nationally.
The current trend for the housing market is crying out for the government to increase supply of housing ASAP.