The report expects Connaught prices to increase by 5% in 2019, down from 8% as reported in 2018.
Among the key findings in Connaught and Ulster:
- Owners of 3 bed semi-detached houses in Connaught and Ulster are likely to see the highest price growth this year, with estate agents predicting a price increase in value by 6%.
- Within the region, 47% of agents expect to market new homes in 2019, compared to just 23% in 2018.
- Over 80% of SCSI agents in Connaught and Ulster indicated that vendor expectations increased in 2018.
- The SCSI report highlighted that the aging population growth is leading to a changing profile of buyers and the need for smaller but a more age-friendly housing supply.
- The report reveals 90% of SCSI agents expect prices to rise in 2019, none of whom are expecting prices to fall, marking an increase on expectations last year.
National residential property predicted to increase by 4% in 2019, with Munster up 5% in 2019
Among the key findings in Munster:
- The report expects Munster house prices to increase by 5% in 2019, down from 7% as reported in 2018 – which aligns neatly with the official CSO statistics which recorded 7% house price inflation year -to- date at November 2018.
- Apartments are likely to see the highest price growth this year (5%) with estate agents (62%) predicting an increase in market activity in Munster in comparison to the national average figure of 45%.
Rest of Leinster
Leinster housing supply impacting inflation as predicted, residential price increases set to slow
Among the key findings in Leinster:
Residential prices in Leinster also predicted to increase by 4% in 2019, down from previous predictions 12 months ago of 8%
Average rents in Leinster expected to increase by 6%
72% of agents reported that one of the top three market concerns is that Landlords are exiting the rental market
The level of housing starts has grown by almost 250% in the past three years in the greater Leinster region