Latest news with #Geowox
Irish Times
30-07-2025
- Business
- Irish Times
Irish house prices up by 51% since 2020, Geowox data shows
The median price of homes in Ireland has risen by 9.5 per cent in the past year, according to a home valuation firm's report. The Geowox Housing Market Report for the second quarter of the year found the median average price for an Irish home rose to €370,000 after a €32,000 rise in the same period in 2024. This increase means that median home prices in Ireland have risen 51 per cent since the second quarter of 2020 when the median home price stood at €245,000. The volume of home sales fell by more than 13 per cent to 11,734 in the quarter compared to the second quarter in the past year. This represents the second consecutive drop in sales volume. READ MORE Dublin sales made up 3,612 of the transactions in the period. New homes represented 2,674 sales, but that figure also fell 3.9 per cent year over year. Despite the drop in overall volume, the number of homes valued at more than €801,000 rose from 675 in the second quarter of 2024 to 753 in the same period of 2025. The median new home sold for €437,000, which represents a €102,000 or 30.4 per cent premium over the median price of pre-owned homes. A comparison of second-hand home sales by energy efficiency standards found that A and B-rated homes sold for a €101,000 premium over lower rated homes, a median sales price of €441,000 over €340,000 for C to G-rated homes. [ Irish house prices will rise 5% in next year then level off, say estate agents Opens in new window ] Dublin city and Co Dublin were the most expensive urban area and region respectively for median home prices. Photograph: iStock The rate of growth in apartment prices slowed in the past year, growing 6.7 per cent year-on-year in Q2 2025, against 10.3 per cent in Q2 2024. After house prices rose at a slower rate to the second quarter of 2024, just 6.8 per cent, they grew by 9.5 per cent year-on-year in Q2 2025. Dublin city and Co Dublin were the most expensive urban area and region respectively, with median home prices of €560,000 and €500,000 respectively. Within Dublin, the most expensive postcode to buy a home was Dublin 6, with a median price of €800,000, followed by Dublin 4 at €750,000, and Dublin 14 at €706,000. Dublin 17 was the most affordable postcode in the county, at €326,000. [ House price inflation reaches 10-year high as market remains 'starved' of supply Opens in new window ] Co Wicklow has the second-highest median price of €435,000; with Naas snagging second place in urban centres at €471,000. Among the country's other urban centres, Monaghan was the most affordable with a median home price of just €212,000. Donegal is the county to have the lowest median home price at €179,000. 'Median prices are steadily rising, while energy-efficient and new homes continue to command hefty premiums,' said Marco Giardina, head of data at Geowox. The report uses the median home price, the middle home transaction, instead of an average to reduce distortion from outlier transactions.
Irish Independent
29-07-2025
- Business
- Irish Independent
Revealed: How much you can add to the value of your home by enhancing its energy efficiency
New research has found that homes with a high Building Energy Rating (BER) are typically selling for €100,000 more than non-efficient homes, according to the Geowox Housing Market Report for the second quarter of this year. Homes with poor energy efficiency fetch a median price of €340,000, figures extracted by the Dublin-based data company from the State's Property Price Register show. However, energy-efficient homes achieved a median price of €441,000 – a €101,000 premium. To carry out the energy-based comparison, data experts excluded new homes to gain a more precise understanding of the energy-efficiency premium. Poorly insulated homes have a BER of C to G. Buyers are prepared to pay more for a home that has had work done to bring it up to a BER of A or B. A and B-rated homes achieve their rating with high levels of insulation and reduced reliance on oil, gas and coal for heating. Smart meters, solar panels and electric heat pumps are also features of those with the highest ratings. While these can be expensive features to install retrospectively, an analysis from the Sustainable Energy Association of Ireland (SEAI) puts the average cost of a deep retrofit well below €105,000. Sales prices across all categories of homes sold in the State rose by 9.5pc in the three months to June when compared with the same quarter last year. The typical, or median, price for an Irish home sold in the second quarter of this year reached €370,000 – a rise of €32,000 compared with the second three months of last year. Prices are calculated from all entries in the Irish residential property price register. A total of 11,734 homes were sold in the second quarter of the year – down 13.25pc compared with the same period last year. Out of the top 25 urban centres, Dublin city was the most expensive, at a median price of €560,000. Monaghan was the most affordable at €212,000. In Dublin city, prices in Eircode D06 – which includes Rathmines, Ranelagh and parts of Dartry – were highest at €800,000. The lowest was in D17 at €326,000. This area includes Coolock, Belcamp and Darndale. In the April to June period, just 2,674 new homes were sold, a fall of 4pc compared with the previous year. New homes had a median value of €437,000 – a €102,000 premium over the median for existing homes. Geowox's head of data, Marco Giardina, said: 'Median prices are steadily rising, while energy-efficient and new homes continue to command hefty premiums.' There was some good news on the housing front last week when figures showed that there was a rise in the number of new homes built in the second quarter of the year. There were 9,214 new dwelling completions across April, May and June this year, according to the Central Statistics Office. This is a rise of 35pc on the same three months last year.
Irish Times
12-05-2025
- Business
- Irish Times
How does retrofitting your house pay off?
Is retrofitting your home worth the money? Many people may be more concerned about the cost of it all and the payback it delivers than the environmental benefits. If you can afford to do it, investing in a retrofit could leave you quids in, data published last month shows. Energy-efficient homes sell for more than €100,000 more, according to data technology company Geowox, which specialises in home valuations . Homes with an A or B energy rating achieved a median sale price of €445,000 compared with €340,000 for less energy-efficient homes, according to the data for the first quarter of this year. The energy-based comparison includes all entries in the Irish residential property price register in the period, but excludes new homes to gain a more precise understanding of the energy-efficiency premium. READ MORE Energy-efficient homes commanded a 30.8 per cent sales premium, with growing demand of 15.7 per cent. That kind of uplift to the value of your home is pretty decent. Bringing your home up to an A or B rating can be pricey, however, so you'll want to know the benefits to you are worth the cost. [ Radical overhaul of retrofit grants under consideration Opens in new window ] Insulating your home, making it airtight, installing a heat pump and new windows and doors, for example, can cost anywhere between €25,000 to €75,000, depending on factors including the size of your home, whether it's terraced or detached, and what general condition it's in. Sustainable Energy Authority of Ireland (SEAI) grants can cover up to 50 per cent of the cost, but you'll have to pay the rest. That's a lot of money, even if it does add value to your home in the long run. The SEAI Home Energy Upgrade Loan Scheme offers rates through the main banks of about 3 per cent. This type of Government-backed loan offers a far more competitive rate than a regular home improvement loan. It enables those availing of SEAI grants in order to improve the Ber rating of their home to borrow between €5,000 and €75,000 over one to 10 years. The money is unsecured – which means, unlike as with a mortgage, the lender has no security, such as your home, against the loan. The loan must be used for retrofit works only, which must be carried out by an SEAI-registered provider. Bank of Ireland is offering this Home Energy Upgrade Loan at a variable rate of 3 per cent annual percentage rate (APR). A loan of €20,000 over five years with that bank will mean monthly instalments of about €360. The total cost of the credit is €1,532.20. Seven credit unions dotted around the country have been approved to offer these loans too, at rates from 2.9 per cent, depending on the lender. So what about the payback? Factors such as better attic and wall insulation and less draughty windows and doors mean your house is going to lose less heat, and what heat it does retain it will do for longer. [ Q&A: Do I need planning permission for my home energy upgrades? Opens in new window ] A more energy-efficient home and heating system will be cheaper to run too, so you'll save on your utility bills. A retrofit is unlikely to save you €360 a month on utility bills, the loan repayment in my example – but it can save you some money, and your home will be warmer and more comfortable at the same time. So, you don't have to sell your house to feel the benefits of retrofitting, but if you do sell, your house should achieve a 30 per cent higher value than a neighbour who didn't retrofit, according to the Geowox data. That advantage will certainly help some householders warm up to the idea of retrofitting.
Business Mayor
26-04-2025
- Business
- Business Mayor
Price of a home in the Republic rose by 9.8% on average in the first quarter, report says
The price of a home in the Republic rose by 9.8 per cent on average in the first quarter compared with the same period last year, a new report says. The report from Geowox, a data technology company specialising in residential valuations, provides figures on completed home sales. The report includes all entries in the Irish residential property price register for the quarter. It shows sale prices rose 9.8 per cent year on year, as the median price for a home reached €360,000. That represented an increase of €32,000 compared with the same quarter of last year. Energy-efficient homes (those with BER ratings of A or B) achieved a median sale price of €445,000 compared with €340,000 for less energy efficient homes. Geowox said its energy-based comparison excludes new homes to gain a more precise understanding of the energy efficiency premium. Energy-efficient homes commanded a 30.8 per cent premium, with growing demand of 15.7 per cent, while apartment sales fell by 10.3 per cent. A total of 10,798 homes were sold in the quarter, which was down 4.5 per cent compared with the same period in 2024. Co Dublin topped the charts at 3,543 sales, followed by Co Cork (1,262) and Co Kildare (557). Out of the top 25 urban centres, Dublin city was the most expensive, with a median price of €552,000, followed by Naas, Co Kildare, at €444,000. Longford was the most affordable at €138,000. In Dublin city, prices in the Dublin 14 postcode were highest at €750,000, and, at €305,000, lowest in Dublin 17. There were a total of 1,924 new home sales in the quarter, which represented an increase of 8.9 per cent. New homes transacted at a median value of €425,000, which represented a €90,000 premium over the median for existing homes. The report also shows urban and rural home prices are converging, with rural properties just 2 per cent more expensive. Price growth was strong in both segments, up 10.2 per cent for urban homes and up 9 per cent for rural. Apartments and houses both saw substantial increases – rising 20.1 per cent to €315,000 and 9.4 per cent to €372,000 respectively. New home prices are up 3.7 per cent, and are nearly 26.9 per cent more expensive than existing homes. Counties Kerry, Dublin, Kildare and Wicklow were the only counties where the median price of a newly constructed home exceeded the national average. In contrast, Co Monaghan offers more affordable options, with new homes priced at a median of €319,000. Sales of properties priced below €150,000 'continued to plummet', the report noted, with only 940 sales recorded in this segment. Geowox head of data, Marco Giardina, said: 'Median prices are steadily rising, while energy-efficient and new homes continue to command hefty premiums.'
Irish Times
26-04-2025
- Business
- Irish Times
Price of a home in the Republic rose by 9.8% on average in the first quarter, report says
The price of a home in the Republic rose by 9.8 per cent on average in the first quarter compared with the same period last year, a new report says. The report from Geowox, a data technology company specialising in residential valuations, provides figures on completed home sales. The report includes all entries in the Irish residential property price register for the quarter. It shows sale prices rose 9.8 per cent year on year, as the median price for a home reached €360,000. That represented an increase of €32,000 compared with the same quarter of last year. Energy-efficient homes (those with BER ratings of A or B) achieved a median sale price of €445,000 compared with €340,000 for less energy efficient homes. READ MORE Geowox said its energy-based comparison excludes new homes to gain a more precise understanding of the energy efficiency premium. Energy-efficient homes commanded a 30.8 per cent premium, with growing demand of 15.7 per cent, while apartment sales fell by 10.3 per cent. A total of 10,798 homes were sold in the quarter, which was down 4.5 per cent compared with the same period in 2024. Co Dublin topped the charts at 3,543 sales, followed by Co Cork (1,262) and Co Kildare (557). Out of the top 25 urban centres, Dublin city was the most expensive, with a median price of €552,000, followed by Naas, Co Kildare, at €444,000. Longford was the most affordable at €138,000. In Dublin city, prices in the Dublin 14 postcode were highest at €750,000, and, at €305,000, lowest in Dublin 17. There were a total of 1,924 new home sales in the quarter, which represented an increase of 8.9 per cent. New homes transacted at a median value of €425,000, which represented a €90,000 premium over the median for existing homes. The report also shows urban and rural home prices are converging, with rural properties just 2 per cent more expensive. Price growth was strong in both segments, up 10.2 per cent for urban homes and up 9 per cent for rural. Apartments and houses both saw substantial increases – rising 20.1 per cent to €315,000 and 9.4 per cent to €372,000 respectively. New home prices are up 3.7 per cent, and are nearly 26.9 per cent more expensive than existing homes. Counties Kerry, Dublin, Kildare and Wicklow were the only counties where the median price of a newly constructed home exceeded the national average. In contrast, Co Monaghan offers more affordable options, with new homes priced at a median of €319,000. Sales of properties priced below €150,000 'continued to plummet', the report noted, with only 940 sales recorded in this segment. Geowox head of data, Marco Giardina, said: 'Median prices are steadily rising, while energy-efficient and new homes continue to command hefty premiums.'
