‘Most affordable’ homes now in the Dublin 22 and 24 areas

‘Most affordable’ homes now in the Dublin 22 and 24 areas

Dublin 22 and 24 postcode areas have the most affordable house prices according to the annual DAFT report.

The report found that house prices in the four administrative areas of Dublin rose by over 9 per cent in 2024, with South and West County among the most affected.

Buying a house in West County Dublin now costs over €374,000 on average, an increase by 9.4 per cent since 2023, and over €682,000 in South County Dublin, which in the report is not divided into South Dublin and Dun Laoghaire-Rathdown.

Only the area defined as “North County” saw a higher increase in prices, which rose by 11.8 per cent to over €400,000.

However, according to the report it’s still possible to purchase a one-bedroom apartment for €159,000 and €165,000 in Dublin 22 and 24 respectively.

A three-bedroom semi-detached house would cost on average €302,000 in Dublin 22 and €313,000 in Dublin 24, up to €565,000 and €585,000 for a five-bedroom detached house.

The report written by Associate Professor in Economics at Trinity College, Ronan Lyons, finds that the prices spike in the capital was well above the 2.4 per cent increase seen in 2023 and the largest annual increase since 2017.

Across Dublin, listed prices rose by an average of 2 per cent between September and December 2024, the first time since 2021 that prices rose in the final quarter.

“If the goal of policymakers is to ensure stable housing prices, then, this has been the least successful year for policymakers since 2017,” wrote Professor Lyons, talking about the nationwide situation.

According to the report, newly built homes having doubled over the last five years is still not enough to address the “very strong growth in demand.”

Also, a significant growth in construction of private rental and public or subsidised housing shouldn’t leave behind construction aimed at owner-occupied tenure.

An increase in interest rates which made existing homeowners fix their interest rates then led to an overall fall in the number of second-hand homes listed for sale across the country.

“In a country that needs more of all homes, more of some will not be enough,” read the report.

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