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Dublin sales report quarter 2 2016

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Dublin sales report quarter 2 2016 snapshot review
Quarter2 2016 saw notonlya decline insalestransactionsbutalsototal in...
2
Dublin13 163 101
Dublin14 123 86
Dublin15 326 283
Dublin16 120 117
Dublin17 190 124
Dublin18 212 186
Dublin20 26 12
Dubl...
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drop off.Dublin4and Dublin15 both experiencedalarge dropoff as transactionswentfrom 386 to
120 and396 to 283 (Dublin18 o...
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Dublin sales report quarter 2 2016

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Snapshot of the Dublin property sales market over the last 12 months (Quarter 2 2015 to Quarter 2016). This report looks at the falling number of listings, sales transactions and increase house prices. This report break down and identifies the most and least popular regions in Dublin for purchasing.

Snapshot of the Dublin property sales market over the last 12 months (Quarter 2 2015 to Quarter 2016). This report looks at the falling number of listings, sales transactions and increase house prices. This report break down and identifies the most and least popular regions in Dublin for purchasing.

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Dublin sales report quarter 2 2016

  1. 1. 1 Dublin sales report quarter 2 2016 snapshot review Quarter2 2016 saw notonlya decline insalestransactionsbutalsototal investment,transactions droppedfrom4,115 in Quarter2 2015 to 2798 thisyear Quarter 2. The total salesvalue hadreduced from1.4 billionto1.1 billion Euroasa result.All of the regions,inthe expectationof CountyDublin exhibited adecliningnumberof transactionsfrom2015 to 2016 Quarter 2. The regionsthatsaw the biggestdropswere: Dublin8 – 253 to 124 transactions Dublin6- 200 to 108 transactions Dublin13- 163 to 101 transactions Area Transactions 2015 Transactions 2016 CountyDublin 147 212 NorthCountyDublin 373 257 Dublin1 116 92 Dublin2 64 35 Dublin3 136 73 Dublin4 179 120 Dublin5 83 60 Dublin6 200 108 Dublin6W 55 52 Dublin7 161 125 Dublin8 253 124 Dublin9 199 127 Dublin10 39 24 Dublin11 154 90 Dublin12 130 112 0 50 100 150 200 250 300 350 400 Transactions Q2 2015 to2016 Transactions 2015 Transactions 2016
  2. 2. 2 Dublin13 163 101 Dublin14 123 86 Dublin15 326 283 Dublin16 120 117 Dublin17 190 124 Dublin18 212 186 Dublin20 26 12 Dublin22 84 51 Dublin24 284 219 Area Numberof Transactions Quarter 1 2016 D15 396 D4 386 D18 217 D24 170 D7 165 D9 150 D16 148 D12 143 D14 141 D13 140 D8 140 D6 131 D3 120 D11 113 D1 105 D5 104 D2 92 D22 64 D20 34 D10 32 D17 31 Above you will findtablesbreakingdown2015 Quarter2, 2016 Quarter 2 andQuarter 1 2016 sales transactions.The above tablesdepictthatthe mostpopularDublin regions continuestoremain Dublin15, Dublin24 and Dublin8 (373 and 257, 326 and 283, 284 and 219 transactions) whilst Dublin20 and Dublin10’s 12 monthtransactionperformance isamongstthe leastpopularfor purchasinghomes (26 and 12 and 24 and 39 transactions). InQuarter 1 of thisyearDublin15, Dublin4 and Dublin18 (396,386,217 transactions) ledthe way withstrongestsalesactivity,In contrast to this Dublin17, 10 and 20 (31, 32 and 34 transactions) were the lowestperforming regions. Transactional figuresacrossthe boardfromQuarter 1 toQuarter 2 have followeda downwardtrendfrom3022 to 2798 transactions,thisQuarter12 monthsago reported 4115 transactions.All of the topthree performersintermsof salestransactions forQuarter1 2016, saw a
  3. 3. 3 drop off.Dublin4and Dublin15 both experiencedalarge dropoff as transactionswentfrom 386 to 120 and396 to 283 (Dublin18 onlyreported a small reductionof 217 to 186). Area Total Value 2015 (millions) Total Value 2016 (millions) CountyDublin 175.46 119.52 NorthCounty Dublin 123.35 79.87 Dublin4 103.53 130.15 Dublin18 100.4 84.29 Dublin6 96.45 79.71 Dublin15 95.84 85.52 Dublin14 86.35 48.79 Dublin24 63.4 59.88 Dublin9 56.82 48.13 Dublin8 56.15 30.69 Dublin13 50.54 36.3 Dublin3 49.28 28.5 Dublin17 45.81 32.79 Dublin16 45.47 44.93 Dublin7 45.13 42.91 Dublin12 43.66 31.01 Dublin11 29.4 19.11 Dublin6W 29.01 24.78 Dublin5 26.3 20.72 Dublin2 26.22 14.01 Dublin1 22.08 27.87 Dublin22 15.2 10.95 Dublin20 6.41 3.18 Dublin10 5.34 3.09
  4. 4. 4 OnlyDublin1 overthe last12 monthshasseena growthin salesactivities(22.08 to 27.87 millionEuro) despite recordinglowersalesfiguresthanQuarter1 2016 (40.76 millionEuro) Dublin 16 had almostequalleditsperformance with45.47 and 44.93 millionEuro.The Dublinregionsthat didn’tfare as well were: Dublin14- 86.35 millionto 48.79 millionEuro Dublin3- 49.2 millionto 28.5 millionEuro Dublin2- 26.2 millionto 14 million Euro As previouslystatedthe total salesvalueoverthe last12 monthshas reducedfrom1.4 BillionEuroto1.1 BillionEuro.Whilst the Numberof transactionshadreduced,the average sale price perhouse had increasedfrom348,932 to405,690 Euro (The average price increase perregion being38,994 Euro) in part due to price growthsinareas such: North County Dublin- 251,241 to 320,776 Euro Dublin1- 193,760 to 309,692 Euro Dublin4- 584,935 to 1,008,000 Euro Dublin5- 487,152 to 744,973 Euro Opposite tothis,five Dublinregionsexperiencedadropin price overthe last12 months: Area Total Sales (millions) Quarter1 2016 D4 187.88 D15 121.67 D18 111.95 D24 110.55 D6 86.4 D14 73.7 D16 59.94 D13 52.68 D3 49.54 D9 48.38 D7 42.67 D1 40.76 D8 38.94 D12 37.24 D5 34.57 D2 28.7 D11 24.35 D22 13.26 D20 7.32 D17 5.9 D10 4.33
  5. 5. 5 Dublin2- 409,689 to 400,013 Euro Dublin10- 157,318 to 147,571 Euro Dublin12- 346,575 to 281,945 Euro Dublin14- 719,623 to 567,407 Euro Dublin18- 494,616 to 460,608 Euro Regionssuchas CountyDublin (569,680 to 574,636 Euro), Dublin15 (301,387 to 309,859 Euro) and Dublin17 (255,926 to 268,826 Euro) showed small butstable growthintheiraverage price persale. The stock shortage has long plagued the property market and this has not been addressed leadingtoQuarter 1 2016 havingthe lowest level of stock for the last 9 years (24,000 properties for sale and 3,600 for rental country wide) Priorto the nine yearlow,the propertiesfor sale amounted to 60,000 and rental properties around 16,000. Most recently is was predicted that there was only 27 housesforsale per person 1000 people in Dublin, compared to 62 outside of the Capital. Dublin alone needs 35,433 residential units to be built between 2014 and 2018 to house its growing Area Average sales Price 2015 (Thousands) Average Sales Price 2016 (Thousands) CountyDublin 569,680 574,636 NorthCountyDublin 251,241 320,776 Dublin1 193,760 309,692 Dublin2 409,689 400,013 Dublin3 367,830 401,414 Dublin4 584,935 1,008,000 Dublin5 328,801 345,340 Dublin6 487,152 744,973 Dublin6W 527,497 505,745 Dublin7 293,087 348,890 Dublin8 228,290 255,762 Dublin9 289,919 379,048 Dublin10 157,318 147,571 Dublin11 197,329 224,871 Dublin12 346,575 281,948 Dublin13 328,246 363,084 Dublin14 719,623 567,407 Dublin15 301,387 309,859 Dublin 16 385,362 404,855 Dublin17 255,926 268,826 Dublin18 494,616 460,608 Dublin20 246,911 265,313 Dublin22 185,466 223,573 Dublin24 228,884 281,154
  6. 6. 6 population trends. Last year only 11,000 new residential units were completed nationwide with 8,300 the year before that (the target is 25,000 each year) Construction Output in Ireland has been on the rise since 2011 posting 9.48 billion Euro 2014, 12.55 billion Euro 2015 and projected to be 15 billionEurobythe end of the year. Daft.ie as of the beginning of August had 3545 properties listed for sale and 1344 for rental. Area SalesListings Q2 2016 Rental ListingsQ2 2016 CountyDublin 571 245 NorthCounty Dublin 630 88 Dublin1 95 100 Dublin2 112 50 Dublin3 93 32 Dublin4 132 165 Dublin5 101 17 Dublin6 82 95 Dublin6W 43 21 Dublin7 161 37 Dublin8 122 87 Dublin9 181 47 Dublin10 3 21 Dublin11 163 13 Dublin12 105 30 Dublin13 116 21 Dublin14 96 52 Dublin15 257 41 Dublin16 79 16 Dublin17 15 3 Dublin18 179 102 Dublin20 38 16 Dublin22 62 15 Dublin24 109 30 Dublin15, Dublin9 and Dublin18 (257, 181 and 179 listings) hadthe mostsaleslistings in Quarter2 2016, bothDublin15 andDublin18 saw theirsaleslistingsreducedfromQuarter1 2016 figures(391 and 204 listings). Onthe opposite endof the scale,Dublin10, Dublin17 and Dublin20 had the leastsaleslistings(3,15 and 38 listings).Thismirrored asimilarperformance inQuarter1 2016 with21, 23 and 34. The largestincrease inavailablesalestransactionswasDublin2,previously havingmore rental thensaleslistings(38and 121) to112 and 50. Many of the Dublinregionshad experienceddeclinesfromthe startof the year to the endof Quarter 2 in available salesandrental listings,twoexamplesof thisbeing: Dublin14 139 to 96 saleslistings
  7. 7. 7 Dublin13 159 to 116 saleslistings In termsof the listedrental properties, once againDublin18was amongstthe top three performerslike Quarter12016 (92 to 102 listings) Dublin4 andCountyDublin occupied the remainingtwoplaces(141 to 165 and 245 listings) Dublin10despite averylimited amountof rental propertiesincreasedfrom3to 21, similartothat of Dublin20 (6 to 16 listings). Conclusion In conclusion, it is coming ever increasingly apparent that the delays in building new residential units has led to house prices continuing to increase (average sales price increase of 38,994 Euro nationwide) Sales figures have declined over the last 12 months, in line with the numberof salestransactions.All of the Dublinregions have seen a reduction in their sales numbers from not only 12 month prior but also Quarter 1 2016 (expect for Dublin 1) The numberof listingshasbeenonthe declineforanumberof years,asa nine year low was realised for both sales and rental properties (60,000 to 24,000 sales listings and 13,000 to 3,600 rental listings) sales transactions over the last 12 months have followed a similar trend going from 4117 to 2779 in Quarter 2. Five regions in Dublin displayed a decrease in the average sales price from Quarter 2 2015 to Quarter 2016, these were Dublin 18 (494,616 to 460,608 Euro), Dublin 12 (346,578 to 281,948 Euro), Dublin 2 (409,689 to 400,013 Euro), Dublin 6W (527,497 to 505,745 Euro) and Dublin 10 (157,318 to 147,571 Euro). These prices decreases were off-set by large price increases in Dublin 1 (193,760 to 309,692 Euro), Dublin 4 (584,935 to 1,008,000 Euro) and Dublin 6 (487,952 to 744,973 Euro) All the areas experiencingthe largerprice increasesare located eithercity based or just on the outskirts. In contrast to this the regions with dipping prices were mostly in suburbs outside of the city. Suburban livinghasbecome more popularcomparedto livinginthe city,especiallyasDublin 1, 2 and 4 combined to make up 359 transactions in Quarter 1 2016 reducing to 247 by the end of Quarter 2 2016. Transactions across Dublin 1, Dublin 2 and Dublin 4 collectively made up 749 sales and rental listings,with Dublin15and 18 alone totalling579transactions. The Dublinregionslocated inthe citycentre and the close outskirts(Dublin1,Dublin2, Dublin4 andDublin6) have more rental than saleslistings(410to 321 listings) whereasthe popularsuburbssuchasDublin 18, Dublin 15 and Dublin 13 has the reverse (552 to 164 listings). The average price as mentioned in the above paragraph is a main driver to for this trend, plus more new residential units are being delivered outside of the city(example of thisbeing new residential developmentsin Adamstown, Cherrywood and Belarmine). Presently, the CIS reports that there are 1,073 applications in the planning submittedstage,1,073 for planninggrantedandonly 49 on site. The lack of new residential units in the city centre hasbeen a main culprit for the larger price increases reducing the proportion of the market with the funds or credit lines to purchase there, making more people willing or forced to commute to work than in the past.
  8. 8. 8 Produced by Matthew Scott Senior Commercial Sales Manager Mobile: 0874641388 Email: matthew@4pm.ie Sources: Daft.ie The Residential Price Register www.CISIreland.com

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