The Dublin 8 residential market has performed very strongly in 2023 from a seller’s perspective. Average selling prices were 9.8% over asking prices, in line with 2022 at 9.4%. This performance was underpinned by a lack of supply of properties for sale, down 23% year on year. The Dublin 8 market was by far the strongest in terms of variance over asking when compared to our transactions elsewhere where the average variance was 5%.
The demand was led by first-time buyers who accounted for 90% of our owner occupiers. Investor demand was lower in Dublin 8 compared to the rest of Dublin, at just 17% of our overall buyers. 33% of our properties were agreed over asking with an average selling price of €586,667.
Overall demand and selling prices remained robust across Dublin 8, particularly for houses in turn-key condition in sought-after neighbourhoods including Portobello, Kilmainham, and areas close to South Circular Road. We had a record sale at 13 Raymond Street, which sold for 27% above asking and within 4 weeks.
Key highlights from our 2023 transactional data:
- 33% of buyers required no mortgage funding.
- Investors accounted for only 17% of buyers.
- Our average selling price was €586,667 or €637 per sq. ft.
- Average selling prices were 9.8% over asking prices.
- The average age of our buyers was 36.
- Average selling times were fast at 5.6 weeks.