House Prices in Dublin, Where are they now?

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Quick Recap - What happened in Dublin?

House and unit purchase and rent prices had a steep decline between 2007 and 2013. The prices then began to recover.

The rental yields were far more attractive during recovery than before the decline.

The timeline of prices

Note that none of these prices have been adjusted for inflation.

RegionYearBedsYieldRentPurchase
($ or euro)/mo($ or euro) '000s
South Co200653.20%46521743
South Co201053.30%2484903
South Co201354.95%3282796
South Co201853.1%25911011
South Co200624.10%1436420
South Co201024.55%1163307
South Co201326.25%1349259
South Co201825.4%1833405
West200652.88%1334555
West201053.89%1623501
West201354.19%1300372
West201854.6%2017523
West200624.13%1114324
West201025.92%883179
West201329.20%928121
West201828.20%1427210
South Yarra2014house2.80%33061419
South Yarra2018house2.45%32501591
South Yarra2014unit4.01%2041611
South Yarra2018unit4.29%2037570
House Prices and Rents. Dublin real estate data taken from Daft.ie

What is the story today?

House prices have continued to recover, and rents too though to a lesser extent. Largely they have not yet recovered to their 2006 values.

If you had purchased a 5 bedroom house in 2006 for €1.743M, today with inflation that should be €2.255M. Instead the price is €1.01M, 55% lower.

In Australia it seems home prices have increased, though not much more than inflation (%5 growth after inflation), while unit prices have declined. This could be a function of the area, an exceedingly large supply of units has been built in the South Yarra area. Rent prices have declined, both in dollars and when adjusted for inflation.

Perhaps this is a reflection of the very low wage growth enjoyed by Melbourne professionals over the same period, or again is a function of the increased housing supply in South Yarra and competing suburbs.

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