At Rowan Fitzgerald Auctioneers, we pride ourselves on being a leading force in the property market, offering a comprehensive range of services including Auctioneering, Estate Agency, Letting Agency, and Property Management. While we’re based in Limerick City, our expertise extends to the national market, ensuring our clients receive top-notch service and guidance regardless of their location.

As experts in the field, we’re closely monitoring the trends, and despite recent surges, experts predict that house prices will continue their upward trajectory. Even amidst a backdrop of increasing interest rates and mortgage costs, the property market remains resilient, with prices surpassing the peaks of the Celtic Tiger era.

In the past year alone, property prices across the country surged by 4.4%, marking the seventh consecutive month of increases. This upward momentum shows no signs of slowing down, particularly in regions outside of Dublin, where demand remains robust.

According to Ian Lawlor, Managing Director of Lotus Investment Group, there’s tangible evidence of the housing market gaining momentum. Predictions from estate agents suggest a continued rise in house prices, driven by strong demand for new developments both in Dublin and beyond.

While demand for housing continues to soar, there’s optimism as supply gradually catches up. Housing completions saw a significant uptick last year, with a 10% increase in overall completions and a notable 28% rise in apartment completions.

Independent economist Austin Hughes underscores the positive outlook, noting that property prices have been steadily rising since the summer. With prices of existing properties rebounding and new house prices soaring, the market reflects a strong economy and persistent supply challenges.

Looking ahead, Hughes predicts a sustainable growth rate of 3% to 5%, aligning with income and spending power in the economy. Despite reaching record highs, the market remains dynamic, with the median price of dwellings hitting €327,500 by the end of the year.

Notably, price increases were more pronounced outside of Dublin, indicating broader market growth and opportunity. From Leitrim to Dún Laoghaire-Rathdown, the property landscape is diverse, offering something for every buyer.

While interest rate hikes from the European Central Bank initially tempered inflation, the fundamental imbalance between supply and demand continues to fuel price increases. Government schemes like Help-to-Buy and First Home further stimulate the market, providing vital support for first-time buyers.

In summary, the property market is in a phase of sustained growth, presenting both challenges and opportunities for buyers and sellers alike. With Rowan Fitzgerald Auctioneers by your side, you can navigate this dynamic landscape with confidence, knowing you have a trusted partner every step of the way.