Total Value of All Irish Residential Properties Exceed €519 Billion in 2019

According to property portal Daft.ie, Ireland home prices in 2019 grew by 1% year-on-year and 715 properties were sold so far this year that are worth €1m or more. By location, the most expensive markets are all in Dublin. The average asking price in Mount Merrion is now €777k, followed by Dalkey €743k, and Sandycove €740k. By comparison, the average asking price nationwide is €257k.

Outside of Dublin, Enniskerry in Co. Wicklow is the most expensive market with average property values of €619k, In the other provinces, that distinction falls to Kinsale in Munster (€383,000) and Kinvara in Connacht-Ulster (€317,000), again in each case the most expensive market in their region by some distance. The cheapest market in the country remains Ballaghaderreen in Roscommon, where with the average property value at just €96,000, it remains the only market in the country where property values are below €100,000.

Commenting on the findings, Ronan Lyons, economist at Trinity College Dublin and author of the Daft.ie Wealth Report, said "In the last 12 months, Ireland's housing wealth has increased by just 1%, or €5.3bn. Almost all of this increase - just over €5.1bn - has come from newly built homes adding to the stock of housing. The much more modest increase in the average value of all homes - €1.1bn - is almost entirely offset by losses due to depreciation and obsolescence (€0.9bn)."

Raychel O'Connell, Communications Manager of Daft.ie commented, "Dublin continues to be the area where most million-euro plus properties and property millionaires are in Ireland. For the first time Temple Road in Dartry tops the list as Ireland's most expensive street."

Ireland Property Market Highlights Include:

• The value of all residential property in Ireland now stands at over €519 billion, up from €514 billion a year ago. This represents a daily increase of €15m.
• Eleven streets had two or more transactions of €2m or higher for individual properties in 2019, so far. Four of those streets are in Dublin 6.
• Ireland's most expensive street is now Temple Road, which had three properties trade for more than €2m, with an average price tag of €5.5m
• scommon is still the only market in the country where average property values remain below €100,000.
• The highest concentration of property millionaires is in Dalkey with 276, followed by Ranelagh (252) and Ballsbridge (235).