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Ireland’s most expensive street by property values has been identified in a new report released Sunday.
The Daft.ie report says that Temple Gardens, in the Dublin 6 suburb of Rathmines, three properties are trading for more than 2 million euros, with an average price of 3.1 million euros.
Was previously described by Madeleine Lyons, Irish Times Property Editor, as “a quiet street of only 26 houses tucked between the wide expanse of Palmerston Road and the quieter Merton Road that runs the length of the Luas track to Cowper.” She noted that “for a short stretch of townhouses and single-family homes, it certainly outweighs its weight when it comes to sales.”
Temple Gardens, Rathmines. Photography: Google Street.
At the other end of the scale, there are now only two areas in the country where average property values remain below € 100,000. These are Bundoran, Co Donegal, where the average is € 91,000 and Castlereagh, Co Roscommon, which recorded an average house price of € 96,000 in 2020.
The value of all residential properties in Ireland now stands at more than € 536 billion, up from € 518 billion a year ago, representing a daily increase of € 50 million, according to the report.
So far, there have been 638 transactions of 1 million euros or more for individual properties in 2020.
The largest concentration of real estate millionaires is in Dalkey with 643, followed by Ranelagh (305) and Ballsbridge (235).
House prices are growing 3.5% YoY and in 2020. By location, the most expensive markets are all in Dublin. The average sale price on Mount Merrion is now € 820,000, followed by Dalkey at € 765,000 and Sandycove at € 746,000. In comparison, the average sales price nationwide is 264,000 euros.
Outside of Dublin, Enniskerry in Co. Wicklow is the most expensive, with an average property value of € 625,000. In Munster, Kinsale Co Cork tops the list (€ 364,000) and in Connacht-Ulster, Kinvara has the most expensive median property price (€ 300,000).
Ronan Lyons, an economist at Trinity College Dublin and author of the Daft.ie Wealth Report, said: “Overall property wealth in Ireland has increased by approximately 3.5 percent compared to the previous year.
“That increase of almost 50 million euros a day was not due to the completion of 6,000 million euros of new homes, which were affected by the pandemic, but to the higher values of existing homes. If I had surveyed 100 economists at the beginning of the year, when there were only the first indications of the potential impact of Covid-19, I doubt that any, in all honesty, would have predicted that such an economic shock would have caused property. prices go up, don’t go down, but that’s what happened. “
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