‘Great divergence’ between property prices in Tipperary and Dublin

By Eoin Kelleher

Reporter:

By Eoin Kelleher

Tipperary’s house prices are diverging signifcantly from those in the capital, according to a new analysis by house price watchdog daft.ie. The latest Daft snapshot of asking prices for properties in Tipperary is as follows (figures in 000’s): 1-bed apartment E50; 2-bed terraced E62; 3-bed semi-d E91; 4-bed bungalow E183; 5-bed semi detached E207.

Tipperary’s house prices are diverging signifcantly from those in the capital, according to a new analysis by house price watchdog daft.ie.

The latest Daft snapshot of asking prices for properties in Tipperary is as follows (figures in 000’s): 1-bed apartment E50; 2-bed terraced E62; 3-bed semi-d E91; 4-bed bungalow E183; 5-bed semi detached E207.

The average price in property per square meter in Tipperary over the last few years is as follows: 2007(Q2) E2,061; 2009 (Q2) E1,844; 2011 (Q2) E1,601; 2013 (Q2) E1,394.

The figures show that Tipperary is in line with rural Ireland, but diverging from Dublin, where prices are recovering.

“The Great Divergence is a term used by economic historians to describe one of the momentous developments in world history – when European incomes rose above subsistence levels for the first time, while those in the rest of the world lagged behind,” says Daft’s in-house economist Ronan Lyons.

“On a much smaller scale, we are witnessing a ‘Great Divergence# in the Irish housing market currently.

“The latest Daft.ie Report confirms this – asking prices in Dublin are up more than 5% year-on-year, while asking prices in the rest of the country are down almost 10%.

What do you think of this story? email news@tipperarystar.ie