Latest news with #GeowoxHousingMarketReport
Irish Times
30-07-2025
- Business
- Irish Times
Ireland gets energy warning and should you buying a home if you aren't married
Ireland's ambition to become a big net exporter of renewable electricity 'risks being undermined unless policymakers act swiftly to address cost competitiveness challenges', the National Economic and Social Council has warned the Government. Kevin O'Sullivan has the story , and also breaks down what the reports mean for Ireland. It's more popular than ever, but is buying a home with your other half when you aren't married the right move for you? Joanne Hunt breaks down what is at stake in Money Matters. Given the amount of trade news in recent days, it is understandable that the EU's mammoth budget has moved somewhat under the radar. Martin Sandbu goes through the detail to show the good, the bad and ugly of the bloc's spending plan. Kevin also reports that progress in Ireland's transition to clean energy is insufficient to meet key energy targets with 'widening investment and delivery gaps', an assessment of trends up to 2050 concludes. The report by energy analysts Wood Mackenzie, in collaboration with the energy company Pinergy, concludes Ireland could become a net exporter of electricity as early as 2030, enabled by offshore wind and new interconnectors. READ MORE It's earnings season, and we got our first look at the big banks, with Bank of Ireland reporting a 31 per cent drop in net profit for the first half of the year and higher than expected provisions for bad loans. The shares fell, with CEO Myles O'Grady set to cut 260 jobs next year. Joe Brennan has the details, and analyses why the market turned off the bank after the earnings. 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. Hugh Dooley has the story. The High Court has confirmed a Central Bank inquiry decision fining Irish Nationwide Building Society's former finance director John Stanley Purcell €130,000 for his role in regulatory breaches at the lender before its collapse during the financial crisis. Mary Carolan reports. A forensic investigation into loans from Fade Street Social restaurant company, which is in examinership, to three companies in which Dylan McGrath was a director and two of which Vincent Melinn had been a director, has been conducted by staff at recovery specialists Azets. Details emerged as the examiner to the business successfully applied for more time to save the restaurant. The International Monetary Fund has upgraded its growth forecast for the euro zone on the back of a 'strong GDP out-turn in Ireland'. As Eoin Burke-Kennedy reports, in its latest assessment of global economic conditions, the Washington-based institution said it expected growth in the euro zone to accelerate to 1 per cent in 2025 and 1.2 per cent in 2026. A senior Dublin-based manager with Twitter who was deemed by the company to have resigned when he failed to sign up to the new 'hard-core' work environment set out by Elon Musk had, in fact, availed of an 'enhanced opportunity' to depart with severance pay, the company has told the Labour Court. Emmet Malone was there. A former employee of popular Dublin ice cream parlour Spilt Milk, who said she quit after months of sexual harassment from a colleague a decade her senior, has secured €5,000 in compensation. If you'd like to read more about the issues that affect your finances try signing up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
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.
