Dublin 6 tops house-buyers lists as home sales jump 76%

An in-depth study of the Dublin property market has found that Dublin 6 was the most popular area to buy a property during the first half of this year, with 346 sales recorded between January and June.

That marks a 76% increase on the 197 sales recorded for the postcode during the same period last year.

The Myhome.ie study showed that Dublin 15 (303 sales), Dublin 16 (265 sales) and Dublin 6W (258 sales) were also popular among buyers. Sales in Dublin 13 climbed by 189% to 208, largely due to the fact that sales in Clongriffin jumped dramatically from just five during the first half of 2013 to 73 in the first half of 2014.

The study found that there was a 32% increase in the overall volume of sales, rising from 3,996 to 5,240, with €1.8bn being spent on property in the capital during this period.

Of the 23 regions in Dublin, only Dublin 20 and Dublin 17 failed to record an increase.

Managing director of Myhome.ie Angela Keegan said that if the present trend continues, we could see 14,000 transactions in Dublin by the end of the year — up from the nearly 11,100 recorded last year.

“We’ve seen almost 1,300 more transactions in the first six months of this year than we did at this point last year and that is very pleasing. The volume of sales is increasing and we believe this trend will continue because people who haven’t been buying for the last number of years are now back in the market,” Keegan said.

“We are concerned about the lack of supply and the effect this is having on sales and affordability. For example Castleknock was the most popular area to buy a home during 2013, with 304 sales, but its figures for the first six months of the year fell by 11%, underlining the stock problems that are affecting many parts of Dublin,” she said.

Sales in Co. Dublin rose from 940 in the first half of last year to 1,226 in the first six months of this year — a 30% increase. In South County Dublin, sales were up 25%, while sales rose 34% in North County Dublin.

The postcode which saw the biggest spend was Dublin 18 at €178m.

* Business Post News Service