Second-hand home shortage to drive Dublin house prices up 10%

HOUSE prices in Dublin will rise by 10% this year, according to one of the city’s leading estate agents, because of a shortage of second-hand homes coming on the market.

A new report by Gunne estate agents shows a slight drop in the number of second-hand houses coming on the market in the first three months of the year compared to the same period in 2004. The supply shortage, the report says, is driving prices higher.

Gunne research estimates that second-hand house prices will rise by 10%, compared to a 6% forecasted rise for new homes.