Residential property prices in central Dublin will soar by a quarter to a median €476k by 2028, a comprehensive analysis of the housing market for Dublin City Council has found. The housing need and demand assessment (HNDA) by KPMG’s research consultancy said the average price of a home will increase from €437,868 to €575,251 between 2021 and 2028. KPMG said that the median home price would rise from €378,403 to €476,760 in the same period. It also showed that 75% of the homes in central Dublin will be priced above €367,252 in 2028, compared to €291,487 in 2021. In addition to a sharp rise in home prices, the HNDA has also forecast the median weekly rent in the council’s locality will surge from €411 a week to €603 a week by 2028, which will mean the median rental unit will cost c. €2,412 a month. Recent data released by the Department of Housing suggests there has been an increased rate of homebuilding following new state initiatives and forecasts that 27,000 homes could be completed next year. The government’s Housing for All plan has aimed to boost housing delivery up to an average of 33,000 homes a year between now and 2030. Despite the positive trends in the housing market, the KPMG analysis has forecast a rise in home prices of 4.27% in 2021. Its report said there will be continued inflation up to 2030, by which time it will have eased to 2%. The Business Post, 28th November 2021
