What causes Dublin home prices to fluctuate?
Over time, the value of a home will go up and down. Normally, house values appreciate in the long term. But, in real estate there is always a certain amount of risk.
When your home appreciates you have a greater asset to borrow against, and you get a greater profit when you sell. Property values in Dublin go up and down for a variety of reasons, so how will you know what you're buying presently won't depreciate the day after you close? It's important that you choose an agent in Dublin who is familiar with the factors that influence local prices.
The economy is believed to be the greatest factor impacting real estate appreciation. Obviously, there are many factors on a national level that adjust your property's value: unemployment, interest rates, the stock market, and more. But the most important things that decide your house's value are specific to the local Dublin economy and housing market.
Access to services - Many home buyers decide to live in districts with the best and most convenient amenities for families to thrive, such as a close proximity to schools, jobs, and work. So when it comes to keeping their value, these areas consistently appreciate much more reliably than areas lacking key features.
Recent sales - Your agent should give you information on the recent real estate sales in the regions that you're asking about. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the past 5-10 years, have property prices gone up or down? Does location or affordability affect how desirable the neighborhood is considered?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a nice mix of jobs in an area, or does it rely on just one industry? Is the blend of commercial and residential zoning changing? Each of these things plays a role.