Our transaction report on the Dublin 8 residential market in 2021 confirms the market performed very strong with prices up on average 5% but at different times selling prices were as much as 10% over asking with low supply and very strong demand. There was evidence of a moderation in price inflation in the autumn when there was a welcome increase in supply.
- Our average selling price was €451,708, 5% over asking price.
- 84% of our buyers were owner occupiers, 69% of which were first time buyers.
- 46% of our buyers required no mortgage funding.
- Demand was strongest up to €450,000.
- Average selling times were 8.8 weeks compared to 11.3 weeks last year.
The outlook for next year will be dictated on how the pandemic is managed, interest rates and the supply of properties coming to market.