DUBLIN: Real estate agents predict house prices will rise 7% this year in Dublin. Hannah Dwyer, Head of Research at JLL Ireland, said the decline in the number of properties for sale and the decline in the completion of required homes reduced the stock-to-sales ratio.
Ms. Dwyer also said that falling interest rates and labour market conditions will improve people’s ability to buy homes, which will likely support price growth. She believes that the tight housing supply will continue to be a problem in the coming year.
According to real estate firm JLL, rental price growth in Dublin will remain consistent in 2021. “There have been increases in stock levels within Dublin sub-markets, particularly the city centre, with an increase in renters returning to family homes during the pandemic,” said Ms Dwyer.
JLL also predicts that rents in Dublin’s city center would fall in 2021. But they said Dublin rents will remain unchanged overall, as there will be a slight increase in suburban rents. However, the company forecasts 1.5% growth in 2022 and 2.5% growth in 2023.
JLL pointed out that increasing housing supply across the market requires more focused discussion and political intervention.
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