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First in Country: Sherry FitzGerald Report Shows Property Market in Ireland is on the Rise

On the first of January, Sherry FitzGerald released one of its four house prices rise in ireland (1)quarterly reports, released quarterly, just one of several released each year by the estate agency network’s department. This report has been released 4 times a year since back in 1990. Although it didn’t receive much media attention and merely shadowed a story regarding the difference in prices between Dublin homes and country homes.

However, the conclusions of this report bare positive news, being the first report since the decline to show a rise in property prices around the country. This is the first price report from anywhere in Ireland that has been released since the crash in the market, to show an increase in the value of the vast majority of homes all over Ireland. The data stated that, nationwide, house prices had an increase of 9.2%.

Although this bodes well for most of us, the news looms menacingly over vendors in counties where the crash hit hard, some of whom struggle to sell 3 bedroom houses for 30,000 euro.

There was a rise of 4.1% in Dublin prices in the final quarter of 2013 and 14.1% over the entirety of 2013. However, Dublin’s mass is not taken into factor as the rest of the country still saw prices grow by 3.2%. This large rise in property prices was almost mirrored by Galway, who saw an increase of 13%, followed by Cork, whose house prices only increased by 4.5%.

“After six consecutive years of price deflation, 2013 saw a return of price inflation in the Irish residential market. That said; all markets did not benefit equally from this recovery.” Marian Finnegan – Chief Economist, Sherry Fitzgerald.

It can at times, be difficult to keep track of property prices due to the variety of organizations who print out a variety of different figures, however, Sherry Fitzgerald seems to be the one to watch at the moment.

How do you feel the rise in property prices affects you and your area? Let us know @4pm

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