Glenveagh sees average price of suburban home rise as profits soar

Revenue generated by Glenveagh increased by 57 per cent to €200 million, while the group’s profit before tax was up 202 per cent to €13.0 million

Data for the wider Irish housing market published by the Central Statistics Office showed house price inflation in Glenveagh’s portfolio tracked behind the 14.1 per cent increase nationally. Picture: RollingNews.ie

The average price of a suburban home sold by Glenveagh has increased to €332,000, up by €34,000 compared to this time last year.

The company said the selling price of its suburban homes is expected to decrease to approximately €320,000 later this year.

It added the 11.4 per cent increase in price, from €298,000 this time last year, was due to house price inflation in the market and a change in its product on the ...