The national average house price during the year to last October, 2021, was €321,596. This was up 9.4pc, or €27,655, compared with the previous 12-month period to October 2020.
A number of rural counties saw huge leaps in property prices due to remote working becoming more popular.
This is according to GeoDirectory database figures, which confirms that the average price of a house shot up by close to €28,000 last year, as a shortage of properties to buy and strong demand combined to send values spiraling upward.
It was also noted that more than 90,000 homes were vacant. Annette Hughes, Director of EY Economic Advisory, said these vacant and derelict homes should be investigated to see if they can be returned to the housing stock – a move which would also support retrofitting of targets.
There were almost 21,000 derelict residential units in the state in December, a 7.3pc drop in the number of units since December 2016, according to the analysis that was carried out with the help of EY Economic Advisory.
Some 18,047 new residential address points were added to the GeoDirectory database in 2021, representing a 17.4pc decrease on the total added in 2020. The database shows that 19,495 residential buildings were under construction at the end of last year, a 16.5pc increase year-on-year.
Dara Keogh, Chief executive of GeoDirectory, said Covid-19 proved to be a substantial speed-bump for the delivery of housing supply in Ireland.
“The knock-on impact of the closure of construction sites in early 2021 can be seen in the relatively low number of new address points added to the GeoDirectory database. But residential construction activity has rebounded strongly since reopening fully in April,” he said.
LSL News.