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House Prices May Fall In The Coming Months

Monday, 3 April 2023 07:18

A new report shows the rate of price rises has slowed slightly.

There's been a slight slowdown in the rate of price rises for homes across the country.

Asking price inflation slowed to 3.2% nationwide, according to the latest MyHome.ie report with Davy.

It shows the median cost for a home in the midlands is €208,000, an increase of nearly €15,000 on this last year.

The average price of a home in Westmeath is €215,000, a drop of €2,450 since last quarter, but over €15,000 more than this time last year.

That figure is €210,000 in Offaly - there's been little change since last quarter, but it's an increase of €5,000 since the first quarter of 2022.

Laois remains the cheapest county in the midlands to buy a home, at €199,000 - that's €2,500 more than last quarter, and €14,000 more than last year.

Chief Economist at Davy and author of the report, Conall MacCoille says we may see price drops in the months ahead:

The slowdown in house price growth is down to poor supply in the market.

There were 630 properties available in the midlands at the end of the first quarter of this year, according to the report.

That's a drop of over 120 since last quarter.

Conall MacCoille the situation is more marked in the capital:

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