Global real estate consultant JLL is reporting this month the JLL Irish Property Index continued to perform steadily, with overall returns of +3.2% in the second quarter of 2016. This is the 19thconsecutive quarter of positive growth.
Overall returns in the last 12 months total +22.8%. The Overall Returns Index is now +13.2% higher than the previous peak in Q4 2007.
Capital values increased by +1.9% in the quarter and +16.2% in the year. Overall Income increased by +0.3% in the last 3 months. In the last 12 months, it has marginally decreased across the portfolio by -1.2%.
Hannah Dwyer, Associate Director and Head of Research at JLL, said: "the Index continues to perform steadily, with modest growth across all indicators. In Q2 2016, Britain voted to leave the European Union, and although is too early to predict the long-term impact of Brexit, there may be a short-term bounce from occupiers. It is hoped that Ireland's strong forecast economic growth positions it strongly to react to any negative impacts. At this stage, the key indicators in the Index are expected to continue to perform steadily in the short-term".
According to Ireland property portal Daft.ie, the national average asking price for a home in Ireland in the third quarter of 2016 was €221,000, compared to €205,000 a year ago and €164,000 at its lowest point.
According to the latest quarterly Rental Report by Daft.ie, Irish residential rents rose nationwide by an average of 3.9% in the second quarter of 2016. This is the largest three-month increase in rents since early 2007.
According to global real estate consultant JLL, €2.3 billion ($2.54b USD) of commercial property has traded in last 3 months in Ireland. Year-to-date total volumes now stand at €2.9 billion ($3.2b USD).
According to the latest House Price Report by Ireland property portal Daft.ie, Ireland home prices rose by an average of 5.9% in the year to March 2016. The divide between Dublin and the rest of the country persists, with prices effectively stable in the capital.