The analysis is based on residential property transactions in Dublin entered in the Residential Property Price Register published by the Property Services Regulatory Authority between the start of 2010 and end of 2013. A total of 28,254 records were extracted from the register representing over 90% of all registered transactions. The breakdown of property types is 23,539 houses and 4,715 apartments.
The price measure used is the median value. This is considered to be a more reliable measure for property values than the average price as it lessens the influence of extreme high or low values on the final summary measure. Simple median values are reported on an annual basis. In reporting the quarterly prices, the median values are calculated on a nine-month rolling basis and are weighted in line with the volume of sales in each district during each quarter. Annual price values are calculated as the median price per district over the full year.
The district map shows the main residential clusters in the city and county. The district boundaries have been developed through a process of address matching in a geographic information system based on addresses reported in the Property Price Register. A total of 88 residential districts have been mapped. These residential areas contain a total of 426,576 households which is equivalent to 91% of all households enumerated in Dublin city and county at the 2011 Census of Population.
Okay, so the Dublin property market is rising but what's the story in my area? The Dublin Property Insight 2014 report provides the answer.
The Dublin Property Insight offers a completely new way of looking at the Dublin property market presenting a micro-level analysis of house and apartment prices and volumes for 88 districts in the city and county. Based on an analysis of over 28,000 property sales records drawn from the Residential Property Price Register, the report presents the true picture of the property market performance in Dublin's residential neighbourhoods. Detailed maps, tables and charts make this report a rich and accessible source of information for property professionals, buyers and sellers. It presents findings for both the house and apartment markets, showing price movement and the volume of sales over the period for each sector. It examines the pattern of price movement and identifies where sustained recovery is taking place and where the market is continuing to fall or is stagnant.
Overall, Dublin house prices rose by over 9% between 2012 and 2013 with prices rising in 69 of the 88 districts identified in this report. While these top-performing districts are concentrated to the south and east of the city, Sutton heads the list of top-performing neighbourhoods. In 2013, just 21 suburbs recorded a prices above their 2010 levels. While the overall median house price for the entire Dublin residential zone increased in each of the last three quarters of 2013, a total of 15 districts have shown a longer period of sustained increase. These areas are showing a strong recovery. A number of high value areas are not showing signs of sustained price growth. The neighbourhood of Rathmines and Portobello for example, recorded a drop in median price in each of the five quarters to the end of 2013.
The median price of Dublin apartments has shown a steady decline from the 2010 price level of € 202,643. The median apartment price for all Dublin hit a four-year low in Q3 2013 at € 149,232. Of 67 areas with significant apartment sales just six showed an increase on their 2010 price level during 2013.
The Dublin Property Insight offers a completely new way of looking at the Dublin property market presenting a micro-level analysis of house and apartment prices and volumes for 88 districts in the city and county. Based on an analysis of over 23,000 residential property sales records, the Dublin Property Insight uncovers the facts of the market at a detailed geographic level. For property professionals, buyers and sellers the 2014 report is the essential guide to what's happening in the Dublin residential market