The Houses Always Win

Churchlands 1JUNE22

here’s a general mantra for real estate agents whenever they’re showing house hunters properties around here.

Killincarrig House 8JUNE22

Namely, “If you want something more expensive, I can show you this again tomorrow”.

With a myhome.ie report this week showing house prices around Wicklow increasing year-on-year by 9.4%, the average price in the county is now €375,000.

Struan Hill 21JUNE22

By contrast, the latest figures from the Central Statistics Office reveal that, up to the year ending April 2022, the average house price is in the ever-growing Greystones is €532,683.

Making this town most expensive postcode outside of Dublin, where the average for Blackrock is €799,611, €825,376 for Glenageary and €916,237 for Dublin 4.

Greystones is followed on the over-the-border list by Bray, at €507,016, and Kinsale, at €469,880.

The cheapest Eircodes in Dublin are Dublin 10 at €266,500, Dublin 17 at €283,750 and Dublin 11 at €292,000, whilst outside the capital, you can nab a home in Castlerea, Roscommon for €115,000, Ballyhaunis, Mayo for €120,000 or Belturbet, Cavan for €121,000.

This means that house prices rose nationally by 14.2% in the year to April, down from 15.1% in the year to March. Property prices are still increasing but the rate of growth has finally slowed down – which will be good news for those hoping to buy.

Gorteen Way MAR22

The average Irish house rose in value by €30,500 in the year to April, whilst in Dublin, that value rose by €46,300, to €512,502.

For a first-time buyer, that would mean needing an annual salary of at least €235,000 to afford an average home in Dublin.

And we have an interesting breakdown of the Greystones numbers from Colin Acton…

Bellevue Hill 20MAY22

When you look at the increase by the 3 electoral divisions included in the 27,834 population, you can see that Delgany ED had a 29.1% increase, see attached. This was an increase of 1,741, compared to 792 in Greystones ED and 1,352 in the Kilcoole ED. Note that the Kilcoole ED includes Charlesland and Eden Gate, etc. So, Ireland 2016-2022 +7.6%; Wicklow 2016-2022 +9.2%; Greystones 2016-2022 +10.9%; Delgany 2016-2022 +29.1%; Kilcoole 2016-2022 +12.6%.

So, given that Greystones is now more expensive than the average Dublin home, those moving here need to be crazy-in-love with the place, crazy rich, or just crazy.