With the summer nearing an end, it is traditional for people to look ahead to what the property market has in store in the final few months of the year.
This is traditionally the busiest period for buying and selling property and this year should be no different according to a Central Bank survey released today.
It found that estate agents expect house prices to continue to rise by 4.5% on average over the next 12 months.
However after the Brexit vote and in the light of market trends, estate agents have cut their estimate of residential house price inflation in Dublin to 3%, from 5% previously.
Elsewhere larger price increases are expected. Estate agents expect prices in the mid-east – the key commuter counties around Dublin – to rise by 10 per cent over the next 12 months and by 15 per cent over three years.
A lack of residential stock is helping asking prices grow at present with the recent GeoView report showing that the national average housing turnover rate between July 2015 and June 2016 was 2.1%.
When Dublin was excluded this fell to 1.5%, highlighting the capital’s effect on the housing market.
With all this in mind, it looks like being a busy end to 2016 but do you share the views expressed by agents?
- Do you think prices will rise in the final few months of the year?
- Where will the biggest increases occur?
- Are you suffering as a result of the lack of stock at present to choose from?
- Are people being forced out of the cities into commuter belts once again?
Have your say below…