Back to site

©2024. All rights reserved.
Crafted by 4Property.

South County Dublin Housing Market Projections

Updated October 2023

Whereas we achieved 10.28% above asking for our sales in 2022, we would expect that to drop back to an average of 5-7% above asking in 2023. We are achieving asking price or above for 80% of our sales agreed so far in 2023.

The local South County Dublin residential housing market has stayed strong throughout 2023. There has been very high demand for first time buyer properties, especially ones in walk-in condition. Typically these have been selling within 3-4 weeks at prices approximately 10% over asking. Typically houses are in higher demand than apartments. A few houses have sold for 20%+ over asking.

Mid-range properties in the price range €600,000 to €1m have also seen good demand, depending on condition and location. Some of these properties have also seen very high demand with multiple bidders bringing selling prices to 5-10% over asking. Others, typically needing extensive modernization, have typically sold for around the asking price (+/- €20,000). We have achieved some outstanding results for properties in prime locations or in particularly good condition.

In the €1m+ price range it all depends on the property. We have sold some for €100,000+ over asking, others struggle to reach the asking price.

The big story in 2022/2023 has been the dramatic rise in interest rates. This would normally result in lower property prices, as it has in many international markets. In Ireland the change in the central bank rules, with the threshold increasing from 3.5x income to 4x times income from 1st Jan 2023, buyers are now spending more of their income on housing (though still at a far lower % than tenants). This has more than compensated for the impact of the increase in interest rates on house prices.

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 with a B3 or bettere BER rating. 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, or getting the property wrapped. As a former BER assessor I have a good knowledge in this area and am happy to advise our clients on this issue.

After the disruption caused by the departure of KBC and Ulster Bank from the mortgage market in late 2022, the banking sector has settled again. 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 8-12 weeks due to more pressure on the remaining banks.

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, the most significant of which is increased mortgage interest. But landlords are also very nevous about the 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.

As we enter Q4 2023 we have a seller’s market with a very low supply of properties and lots of highly motivated buyers with funding in place who are keen to complete a purchase as soon as possible.

In most years prices drop back slightly seasonally in the 4th quarter and rebound after Christmas. This is likely to happen again in 2023, espacially in light of softening prices in the UK (probably due to the economic effects of Brexit) and in many other international markets which are more sensitive to interest rate changes.

Property prices are very sensitive to external factors. As we learned in 2020, there is always the possibility that something unexpected will occur to destabilize the market. If you have a property with equity in it which you wish to liquidate, it is wise to strike while the iron is hot.

So far in 2023 we have achieved a 93.4% sales success rate. If you have a property with on the market for over 4 months with another agency, we would be happy to audit the marketing and give you a second opinion. If a property is struggling to sell, changing agent can be far more effective (and profitable) than reducing the asking price.

As a smaller independent agency we take great pride in our work. In 2022 our selling prices were on average 10.28% above asking, with 93% achieving the full asking price or more.  If you google us, you can read the Google reviews posted by our clients.

Please send me an email at 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.

What is Your Property Really Worth?

Get a Free Property Valuation If You Are Thinking of Selling.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

By sending this message you agree to our privacy and cookie policy

Our dedicated team of valuation experts have over thirty years of experience selling commercial and residential property in Dublin and North Wicklow, and their extensive local knowledge can point you in the right direction.

There is no obligation to engage our services once you receive the valuation.

Privacy Policy

Pagespeed Optimization by Lighthouse.

Tell us why you are here, so we can tailor the website to your needs.