New analysis of Property Price Register for 2019 shows signs of slowdown in Dublin
Main Findings:
- Overall sales dip by 1.5%
- Dublin 11 and 20 see greatest jump in number of sales – with increases of over 40%
- Significant growth in Dublin 12 and 5
- Dublin 13 and 6 see largest falls in sales volume
- Dublin 15 once again most popular postcode with 1,704 sales, while 5,257 sales recorded in County Dublin
A new study based on an analysis of the Property Price Register shows that two outer postcodes in Dublin saw strong sales transaction growth in 2019, while significant gains were also seen in Dublin 12 and Dublin 5. However, the capital is seeing an overall slowdown in transaction numbers.
The study, which was carried out by leading property website MyHome.ie, shows that sales fell by 1.5% in the capital – from 18,523 in 2018 to 18,238 sales last year.
Overall, the number of house sales rose in nine of Dublin’s 22 postcodes, while it fell in 13. Sales stayed relatively steady in County Dublin, falling by 1.2%.
The figures show that two postcodes further away from the city centre are showing significant growth. Notable figures include:
- Dublin 11 saw sales figures rise by 40%, driven largely by the sale of 45 units at Hampton Wood Square in Ballymun.
- Dublin 20 saw sales figures rise by 45%, with Palmerstown recording a 74% increase (75 sales in 2019, up from 43 the previous year).
- Dublin 15 once again represented the busiest postcode for sales, with 1,704 in 2019.
Significant changes in transaction volume were also seen in other parts of the city.
- Dublin 12 saw sales figures rise by 8%. Notable results here included:
- A rise of 10% in Crumlin (from 163 sales in 2018 to 179 sales in 2019) and;
- An increase of 32% in Walkinstown (from 101 sales in 2018 to 133 sales in 2019).
- Dublin 5 saw sales figures rise by 7%. Key areas here were:
- Raheny (up 27%, from 151 sales in 2018 to 192 sales in 2019); and
- Killester (up 39%, from 38 sales in 2018 to 53 sales in 2019).
- Dublin 13 saw a 30% decrease in sales, largely due to a decline in sales in the Parkside development.
- Dublin 6 saw a 22% fall in sales – a large reason for this decline was the 108 sales in the Marianella development in 2018 compared with just nine in 2019.
The total value of transactions in the capital rose by 4.7% in 2019 compared with 2018 – from €8.7bn to €9.1bn.
Meanwhile, 13 postcodes saw an increase in the value of sales, while nine recorded a decrease.
Angela Keegan, Managing Director of MyHome.ie, said: “We’re noticing two overall trends in Dublin at present. Expensive inner postcodes are seeing either sluggish growth or a decline in sales volumes, while the rise in activity in Dublin 11 and 20 reflects the increased stock in outer postcodes of the city – which was also apparent in our analysis of the Property Price Register in the first half of 2019.
“It is also encouraging to see sales volumes rise in Dublin 12 and 5, reflecting the good housing stock in areas like Crumlin and Walkinstown, as well as Raheny and Killester. This is positive for the market as a whole, and particularly for first-time buyers.”
Source: REsidential - blog.myhome.ie
