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      Residential property prices down 0.6% in the year to August

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      Residential property prices decreased by 0.6% nationally in the year to August, according to the latest figures from the Central Statistics Office (CSO).
      This compares to a decrease of 0.6% in the year to July and an increase of 1.9% in the twelve months to August 2019.
      In Dublin, residential property prices saw a decline of 1.6% in the year to August – house prices decreased by 1.4% and apartments increased by 0.1%. The highest house price growth in Dublin was in Fingal at 1.7%, while Dublin City saw a decline of 3.4%.
      Residential property prices in Ireland excluding Dublin were 0.3% higher in the year to August, with house prices up by 0.4% and apartments down by 0.7%. The region outside of Dublin that saw the largest rise in house prices was the South-West at 5.2% – at the other end of the scale, the Border saw a 2.7% decline.
      Overall, the national index is 17.6% lower than its highest level in 2007. Dublin residential property prices are 22.6% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 20.1% lower than their May 2007 peak.
      Property prices nationally have increased by 83.8% from their trough in early 2013. Dublin residential property prices have risen 91.8% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 83.9% higher than at the trough, which was in May 2013. More

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      MyHome.ie Webinar – A chat with buyers’ agent Breffnie O’Kelly

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      We’re delighted to bring you another MyHome.ie Webinar today.
      In this week’s episode, we chat to buyers agent Breffnie O’Kelly.
      Breffnie discusses what her job entails, how she can help you find your ideal home and how Covid-19 has changed consumer attitudes towards the housing market over the last six months.
      Check it out below…
      [embedded content] More

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      in Commercial

      Plough On – Some of the best farmhouses on the market right now

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      The Ploughing Championships were due to have taken place this week but, like many events this year, it has fallen victim to Covid-19.
      Thankfully, there is another event planned for Laois next year but the love of farming is a year round one.
      With that in mind, we decided to look at some of the best farms and farmhouses on the market right now around the country.
      Check them out below…
      Holly Farm, Rathdrum, Co Wicklow
      Loughbeg Farm, Lissacaha, Schull, Co Cork

      Knockadreet Farm, Knockadreet, Ashford, Co Wicklow

      Swanberry Farm, Pallas, Gorey, Co Wexford

      FoxMeadow House Stud Farm, Kileen, Mullinavat, Co Kilkenny More

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      Residential property prices fall by 0.5% nationally

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      Residential property prices decreased by 0.5% nationally in the year to July, according to the latest figures from the Central Statistics Office.
      By contrast was no change in the year to June and an increase of 2.2% in the twelve months to July 2019.
      In Dublin, residential property prices saw a decline of 1.3% in the year to July – house prices decreased by 1.2% and apartments increased by 0.4%. The highest house price growth in Dublin was in Dun Laoghaire-Rathdown at 1.3%, while Dublin City saw a decline of 2.7%.
      Residential property prices in Ireland excluding Dublin were 0.2% higher in the year to July, with house and apartment prices up by 0.3%. The region outside of Dublin that saw the largest rise in house prices was the South-West at 4.3% – at the other end of the scale, the South-East saw a 1.6% decline.
      Overall, the national index is 17.7% lower than its highest level in 2007. Dublin residential property prices are 22.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 20.2% lower than their May 2007 peak.
      Property prices nationally have increased by 83.5% from their trough in early 2013. Dublin residential property prices have risen 91.4% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 83.6% higher than at the trough, which was in May 2013. More

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      Prospective homebuyers still confident about buying despite Covid-19 impact

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      71% of potential buyers are planning on purchasing a property in the next year
      40% expect property prices to fall by up to 10% in the next year
      76% believe the Government could do more to help the property sector
      73% feel safe viewing properties at present
      Prospective homebuyers are still confident about their ability to buy despite resilient house prices and the ongoing effect of Covid-19 to the economy, according to a new survey from MyHome.ie.
      The survey suggests that 71% of prospective buyers are still planning on buying a new property in the next year. This compares with 68% of prospective buyers who were surveyed last May.
      However, consumer opinion regarding house prices has changed since the summer. Now, just 13% of survey respondents believe property prices will fall by over 10% in the next year, whereas last May 37% of consumers predicted that outcome.
      Four in ten consumers now believe that prices will fall by up to 10% in the next year, while half of all respondents believe next year will represent a good time to buy property.
      The survey of 2,716 people also found that three-quarters (76%) of respondents believe the Government could do more to help the property sector.
      The virus is expected to have significant long-term effects, with 61% of respondents believing it will lead to more online processes in general to minimise unnecessary contact. Meanwhile, 23% believe it will lead to quicker sales processes in general.
      In a boost to the sector, 73% of respondents to the survey said they felt safe viewing properties at present.
      Angela Keegan, Managing Director of MyHome.ie, said that the findings reflected the ongoing demand that was evident in the market.
      “Even though consumers have not seen the price drops that many predicted when Covid-19 emerged, demand has stayed strong throughout Q2 and Q3. It appears that many prospective buyers have not been hit by the economic fallout from Covid-19. MyHome.ie had its busiest ever month for website traffic last July, and this is reflected in the fact that seven out of ten respondents are planning on purchasing a property in the next year.”
      However, Ms Keegan warned that it was crucial that construction activity be allowed to continue in the coming months.
      “Our analysis shows that stock levels are down by 22% year-on-year, which is concerning. A healthy, functioning property market needs a good balance of supply and demand, and as such we need to see construction continue unimpeded over the winter if at all possible.” More

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      Love That Home – houses for sale on MyHome.ie with their own tennis courts

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      The final of the US Open tennis championship takes place this weekend and with Wimbledon having been cancelled this summer it’s the nearest we’re likely to get to a big tennis tournament.
      When the Grand Slam tournaments take place, interest tends to soar at tennis clubs around the country.
      For a few lucky homeowners they only have to venture out their back door to hit a few serves and volleys.
      Here’s some of the finest homes with tennis courts on the market right now on MyHome.ie…
      Radharc, Woodtown Way, Stocking Lane, Dublin 16

      Shanbally, Abbeyfeale, Co Limerick

      Ballinamona, Shanagarry, Midleton, Co Cork

      19 Grosvenor Road, Rathgar, Dublin 6

      Derrynane House, Rathcannon, Athlacca, Kilmallock, Co Limerick

      Summerhill, Marino Avenue West, Killiney, Co Dublin More

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      Housing market resilient in face of Covid-19

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      Asking price inflation up 1.2% nationally in August compared with Q2 2019
      Dublin inflation up by 0.3%; rest of country up by 1.5%
      Strong quarterly inflation recorded
      Demand likely a combination of high interest from those with mortgage approval and shortage of stock
      Annual house price inflation has risen by over 1% despite the impact of Covid-19, according to analysis from leading property website MyHome.ie and Davy.
      Key findings:
      Region
      Mix-adjusted asking price
      Annual % change (Q2 2019 – > August 2020)
      Quarterly % change (Q2 2020 – > August 2020
      National
      €280,000
      +1.2%
      +4.3%
      Dublin
      €383,000
      +0.3%
      +2.9%
      Ex-Dublin
      €234,000
      +1.5%
      +4.7%
      Asking price inflation rose by 1.2% nationally compared with Q2 2019, by 0.3% in Dublin, and by 1.5% elsewhere around the country.
      The rise in quarterly asking price inflation has been even more pronounced – by 4.3% nationally, 2.9% in Dublin and 4.7% elsewhere around the country.
      This means the mix-adjusted asking price for new sales nationally is €280,000, while the price in Dublin is €383,000 and elsewhere around the country it is €234,000. Newly listed properties are seen as the most reliable indicator of future price movements.
      Conall MacCoille, Chief Economist at Davy, said: “The MyHome data shows pricing has held up during the summer months; the negative 3% inflation rate seen in Q2 2020 now seems an aberration, driven by the small numbers of vendors prepared to put their homes on the market during the exceptionally uncertain period of the lockdown. Looking ahead we think prices will be broadly flat in 2020, or see marginal declines, but the impact of Covid-19 on the housing market could have a longer, slow burn impact than many appreciate.”
      Angela Keegan, Managing Director of MyHome.ie, said the increase in asking prices was likely a combination of people who already have mortgage approval moving to secure properties, and a shortage of stock. “One of the many negative effects of Covid-19 has been the decrease in construction output, which has had significant ramifications for the property market. Anecdotally we are also seeing people who have mortgage approval acting fast to secure properties and this, added to the fact that stock levels are low, is driving asking prices upwards.” More

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      Residential property prices increase by 0.3% nationally in the year to May

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      Residential property prices increased by 0.3% nationally in the year to May, according to the latest figures from the Central Statistics Office.
      This compares with an increase of 0.7% in the year to April and an increase of 2.6% in the twelve months to May 2019.
      In Dublin, residential property prices showed no change in the year to May – house prices increased by 0.2% and apartments increased by 0.9%. The highest house price growth in Dublin was in Fingal at 2.2%, while South Dublin saw a decline of 1.3%.
      Residential property prices in Ireland excluding Dublin were 0.7% higher in the year to May, with house prices up by 1.0% and apartments down by 1.5%. The region outside of Dublin that saw the largest rise in house prices was the South-West at 4.3% – at the other end of the scale, the South-East saw a 0.8% decline.
      Overall, the national index is 18.1% lower than its highest level in 2007. Dublin residential property prices are 22.4% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 21.1% lower than their May 2007 peak.
      Property prices nationally have increased by 82.7% from their trough in early 2013. Dublin residential property prices have risen 92.1% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 81.6% higher than at the trough, which was in May 2013. More