South County Dublin Housing Market Report and Projections

Updated Easter 2025

The property market is now exceptionally hot! In the last few weeks the volume of properties coming to market has increased significantly in line with the seasonal norm. A lot of these new sales listings are movers, who will also be buying – Springtime is perceived as a good time to move house. With increasing international uncertainty many buyers are looking for the security of owning their own home – driving demand. Demand is still far greater than supply.

Properties are typicallly selling very quickly for far above asking prices. As these asking prices are usually based on prior sales of similar properties in the same area – this is an indicator that prices are going up fast – which is reflective of a sellers market where demand exceeds supply – typical of a growing economy with net inward migration, a growing work force and expanding population.

Population size drives demand

The main drivers of housing demand are the strength of the economy, immigration and money coming in from overseas. We have seen an increase in US based buyers in the last couple of months. Wages here are amost the highest in the EU. With expanding employment there are workers immigrating from overseas, and returning Irish emigrees – generating a significant capital inflow and increasing demand for properties, especially in the premium South County Dublin markets which we serve.

Market Segments

We are seeing exceptional demand in the vicinity of UCD from cash buyers looking to buy properties for their children to live in while they are in college.

Demand is exceptionally high for properties priced up to €650,000. There are a lot of buyers in this price range – but very few properties available. These properties are selling very quickly with multiple bidders for each one. In the last month properties have been selling very quickly. With our high performance approach we are are often achieving €100,000+ over asking.

The €1m+ bracket is also lively. These are mostly unique properties where demand depends on the quality and location of the property. This segment can be more asking price sensitive – but buyers will bid vigourously for what they feel are the right properties.

How long does it take to sell a property?

If you have a property to sell we would recommend bringing it to market as soon as possible. We can launch properties very quickly. With our high performance approach we obtain outstanding sales prices in just a few weeks. The mean length of time it took us to sale agree a property in 2024 was just 29 days. In recent weeks that has reduced to less than 21 days for South County Dublin properties.

The importance of the BER rating

Properties with a B3 or better BER rating now qualify for a green mortgage at reduced interest rates. I have talked with many prospective buyers who are restricting their search to qualifying properties. As a result we see very strong viewing numbers and active bidding for properties which qualify. We have advised quite a few sellers to upgrade the BER prior to sale. Sometimes changing light bulbs is all that is needed. Other properties can reach this standard by installing HIVE controls, upgrading the boiler, installing attic insulation, adding solar panels, or getting the property wrapped or cavity walls pumped. As a former BER assessor I have a good knowledge in this area and am happy to advise our clients on this issue. There are SEAI grants available for many of these upgrades.

Mortgage lending and bridging finance

After the disruption caused by the departure of KBC and Ulster Bank from the mortgage market in late 2022, the banking sector has settled down to a new base level. First time buyer mortgages are readily available. Interest rates are on a downward trajectory. Lower interest rates mean that buyers can afford a larger mortgage within their monthly budget. Falling interest rates tends to lead to house price inflation.

For those seeking to move house – some lenders are now offering bridging finance for people in employment with a healthy income. This is available through mortgage brokers or financial advisors.

Bridging for sellers downsizing

The area of greatest need is equity rich / cash poor homeowners who have paid off their mortgage and are now looking to downsize. These people are in a financial situation where they have to complete their sale before they can complete a purchase – but they are not willing or able to sell without first lining up their new home. This can be challenging as the sellers of properties matching their criteria prefer buyers who already have finding secured, meaning that these downsizers are effectively locked out of the market. In the absence of independent finance from friends or family, the solution for these people may be a government backed bridging scheme. Introducing such a scheme would help make better use of our housing stock, increase the volume of properties changing hands and help to improve our carbon footprint – as new buyers tend to do a deep retrofit on well-located older properties. It would also help release all this equity which currently tied up in housing. In the absence of such a solution – arranging transitional housing may be the best way out of this conundrum for sellers stuck in this situation.

Conveyancing process

The legal conveyancing process has become even more complex. We used to guide 6-8 weeks for completing a sale if selling to a mortgage buyer who already has mortgage approval in principle. This year it has slipped to an average of 120 days (17 weeks) due to delays in conveyancing. The quickest sale in 2024 took six weeks to complete – thanks to a seller who had all their paperwork ready to go with no questions needed. The solution may lie in legislation before the Dail (backed by IPAV) requiring sellers and their solicitors to sort out the legals before going to market.

Rental market

The rental market has become even more unstable as smaller landlords leave the market. Some landlords coming off fixed rate mortgages or interest only arrangements are being forced to sell by their banks, as they can no longer afford the mortgage payments. When tenants move out, at least 50% of our manged properties are being sold instead of re-let. This is partially due to the landlords not being able to increase the rent to compensate for increased costs. But landlords are also very nervous about the perceived pro-tenant bias of the RTB and increased regulation. The positive side of this for the rental market is that most of these properties are being sold to first time buyers who are vacating another rental property.

Conclusion

In spring 2025 we have a seller’s market with properties selling very quickly. We have a database with lots of highly motivated buyers, with funding in place, who are keen to complete a purchase as soon as possible.

With falling interest rates and a stable national government the fundamentals would indicate that further price rises are the more likely scenario for the next few months. However we do not know the future and risks of an international shock to the system cannot be ruled out. If you want to release equity from a property – the best time to sell is now, when people are desperate to buy! Sentiment can change at the drop of a hat.

As an independent agency we take great pride in our work. With us, an experienced agent handles the sale in person from start to finish including the description on MyHome and Daft, viewings and negotiations. We have a good support team. If you google us, you can read the Google reviews posted by our clients. We are not geographically restricted and can sell any property within easy driving distance of our office in Stillorgan.

Please send me an email at phil@ckp.ie or call me on his mobile 087-279 9131 if you want to talk about your specific needs or to schedule a free sales consultation at your property.

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