North County Leader

Your No.1 Local Newspaper

House Price Crisis? Don’t Be Daft!

Local residents will be delighted to know that amid all the economic turmoil, doom and gloom there is a ray of sunshine for those of us who inhabit the North County shores. While house prices plummet throughout the country property prices in the North County are falling at a slower rate than elsewhere and the region holds one of the lowest year-on-year drops in asking prices.

The House Price Report for the final quarter of 2008 was recently released, highlighting the woes the property market is facing. Countrywide asking prices in December 2008 were almost 15 per cent lower than they were in the same month in 2007. This compares to a 12.2 per cent drop in the North County, ensuring we are well below the national average. West Dublin dropped by 14.7 per cent, South County Dublin dropped by 16.1 per cent, South Dublin City dropped by 16.6 per cent and North Dublin City dropped by 15.4 per cent. So while other locations see house prices fall at rates close to and even above the national average, prices in the North County are declining at a much slower rate. So locals can be happy that the value of their home is not falling as rapidly as elsewhere.

This may be due to the fact that employment figures in the region are holding up in comparison to elsewhere resulting in fewer distressed, or panic, sales. With planned investment in a host of projects for the near future, it’s prime location and expanse of facilities the North County has in recent years become a hugely popular destination for family life. The region has seen an explosion in population in almost all of its towns and still remains one of the fastest growing regions in the country.

Speaking following the release of the report local auctioneer Alan Redmond, President of the Institute of Professional Auctioneers and Valuers (IPAV)said “The Daft report shows that prices vary hugely from county to county and within counties and the old adage of location, location, location is as true as ever.”

So with the average house price in the North County down only 12.2 per cent to

an average of E356,000 it’s clear that the region holds the key of location,

location, location.