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26th Mar 2024

Dublin house prices skyrocketing by over €1,000 a week

Kat O'Connor

In Dublin’s fair city, buying your own home is nearly impossible

The ongoing housing crisis makes any hopeful buyer feel lost. My parents were my age when they purchased their first home in Dublin, but I’ll be lucky if I’m a homeowner before my 40th birthday.

This week, a report confirmed that some houses in Dublin are increasing by €1,000 per week.

The study by the REA Average House Price Index confirmed that some houses in Dublin are rising in cost due to the lack of homes available.

In Dublin, the average three-bed semi-detached home is now €517,333. The average cost of a house in the capital is increasing at an average of €469 a week, but some properties are rising by €1,000 per week.

Speaking about the findings, REA agent Joe Brady said houses in Longford are becoming increasingly popular with people being priced out of the capital.

He explained to The Sun that house prices in Longford are increasing because of the high demand.

“We expect a rise in values by as much as five percent this spring, based on current sales.

“To date, there are no new homes on the market in County Longford and it may be late 2024 or into 2025 before we see more new supply,” he added.

I’ll never be able to afford a house in the city I call home

The rising costs are nothing but disheartening for those trying to buy their first home. Seeing homes in the capital sell for half a million when the average wage in Ireland is around €45,000 makes little to no sense, but this reality is to be expected when we have a Government who aren’t willing to mend the housing crisis, only worsen it.

I want to live in Dublin. It’s the place I’ve called home for 29 years but there’s no way I’ll ever be able to afford a home when the prices are this extreme.

68% of people in their late twenties are still living at home, but who can blame them when houses are selling for more than their worth?

Dublin is my home, but it likely won’t stay that way for much longer as this housing crisis continues to push people away.