November Sales and Rental Market Update

As 2022 comes to an end, our transactional data in November confirms property price inflation in our key markets continues to moderate. Our average selling prices were 1.6% over asking prices compared to 8.5% in October. Our average selling price was €590,433 and 27% of our sales were agreed above asking compared to over 80% of our sales in the first six months of the year.

We saw increased activity from first time buyers who accounted for 84% of our owner occupier buyers. We saw less demand from investors at only 13% of our buyers. Over 60% of our sellers were landlords exiting the market who were very disappointed with the recent budget. 20% of our buyers required no mortgage funding, compared to 58% in October. This suggests pent-up demand from returning Dubliners because of the pandemic is unwinding.

In the rental market, our average monthly rental value was €2,070 per month. 65% of our tenants were working in the technology sector and 24% of our tenants were Irish, the highest figure we have recorded this year.

Key highlights from our November transactional data:

  • Our average selling price was €590,433/€669 per sq. ft.
  • Average selling prices were 1.6% above asking prices compared to +8.5% in October.
  • The average age of our buyers was 38.
  • Investors accounted for just 13% of our buyers this month, compared to 42% in October.
  • Average tenant age was 33.