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Value of residential property in Ireland hits €510bn

A new report has suggested the value of all residential property in Ireland now stands at €510b...
Jack Quann
Jack Quann

10.39 26 May 2019


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Value of residential property...

Value of residential property in Ireland hits €510bn

Jack Quann
Jack Quann

10.39 26 May 2019


Share this article


A new report has suggested the value of all residential property in Ireland now stands at €510bn.

That is up from €479bn a year ago, and represents a daily increase of €83m.

The Daft.ie Wealth Report found Mount Merrion in Dublin is the most expensive market in the country, with average property values of €854,000.

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Ireland's most expensive street listed in 2019 is Coliemore in Dalkey, which has seen no fewer than four properties change hands for an average of €5.5m.

Source: Daft.ie

Outside Dublin, the most expensive street is Scilly Hill, Kinsale with an average house price sale of €2.5m.

House prices are growing by 5.9% year-on-year - and in 2019 there are on average 11 properties sold nationwide every week that are worth €1m or more.

The highest concentration of property millionaires is in Dalkey with 936, followed by Foxrock (540) and Mount Merrion (230).

residential property Source: Daft.ie

By location, the most expensive markets are all in Dublin.

The average asking price in Mount Merrion is now €850,000, followed by Foxrock €834,000, and Sandycove €752,000.

By comparison, the average asking price nationwide is €261,000.

residential property Source: Daft.ie

Outside of Dublin, Enniskerry in Co Wicklow is the most expensive market with average property values of €638,000.

In the other provinces, that distinction falls to Kinsale in Munster (€395,000) and Kinvara in Connacht-Ulster (€326,000).

The cheapest market in the country remains Ballaghaderreen in Co Roscommon, where with the average property value at just €97,000.

It remains the only market in the country where property values are below €100,000.

The most expensive streets outside Dublin are:

  • Scilly Hill, Scilly, Kinsale (€2,550k)
  • Glounagillagh, Caragh Lake, Killorglin (€2,178k)
  • Cuan Ban, Colla Rd, Schull (€2,100k)
  • Hill Crest Manor, Newport, Tipperary (€2,043k)
  • Athgarvan House, Newbridge, Kildare (€2,000k)
  • Rooska, Ardbrack, Kinsale (€2,000k)

Commenting on the findings, report author and economist Ronan Lyons said: "Ireland's two million homes are worth over €500bn.

"This marks an increase of just over €30bn in a year.

"While the bulk of that comes from changes in property values, a growing share of the change in Ireland's property wealth is coming from new construction.

"On average last year, Ireland's stock of homes grew in value by €84m per day - with €15m of that coming from new construction."


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Daft.ie Daft.ie Wealth Report Dalkey Enniskerry Expensive Houses Foxrock House Prices Kinsale Mount Merrion Property Market Residential Property Ronan Lyons

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