The latest data from the Central Statistics Office (CSO) for February 2024 provides insightful details on the real estate market activity in Dublin 6.
Here is a breakdown of the significant trends and data points observed:
Overview of Sales Volume
In February 2024, the total volume of property sales filings in Dublin 6 reached 20 transactions. This figure includes all dwelling statuses and encompasses various types of buyers, reflecting a vibrant market activity in the region.
Buyer Analysis
Different buyer categories showed varying levels of activity:
- First-Time Buyers: First-time buyer owner-occupiers accounted for 3 sales. This indicates a relatively lower participation from new entrants in the housing market.
- Former Owner-Occupiers: There were 12 transactions involving former owner-occupiers. This group showed the highest level of activity, suggesting that many are upgrading or relocating within the area.
- Non-Occupier Buyers: Non-occupier buyers, those who purchase properties not for primary residence, were involved in 5 sales. This highlights continued interest from investors or second-home buyers.
Stamp Duty Events
The CSO data also distinguishes between different stages of property transactions, specifically filings and executions:
- Filings: These are initial transaction records. In February 2024, filings for all buyer types in Dublin 6 totaled 20. This is a preliminary step in the property acquisition process.
- Executions: Referring to the completion stage of transactions, there were 17 executions recorded for all buyer types. This indicates that most filings proceed to completion without significant drop-offs.
Insights and Trends
The data for February 2024 reveals several trends:
- Former Owner-Occupiers Dominate: A substantial portion of the market activity comes from former owner-occupiers, highlighting a dynamic where many existing homeowners are making moves within the property market.
- Sustained Investor Interest: Non-occupier buyer activity underscores the ongoing appeal of Dublin 6 as a solid investment choice, likely due to its desirable location and stable property values.
- First-Time Buyer Engagement: The relatively low number of transactions by first-time buyers could point to affordability issues or competition from other buyer groups.
Overall, the February 2024 data for Dublin 6 showcases a robust property market with diverse buyer participation. The distinction between filing and execution stages provides additional clarity on transaction dynamics, revealing a healthy rate of transaction completions.
These insights can aid potential buyers, sellers, and investors in making informed decisions.
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