House prices jump almost 7% in just three months
The average house price in Carlow town is now €295,000
THE PRICE of an average second-hand three-bed semi in Co Carlow has jumped by 6.9% in the last three months. That’s according to a national survey by Real Estate Alliance which found that the average price for such houses now stands at €272,500, up from €255,000 at the end of the last quarter.
Prices in Carlow town rose to €295,000, up 9.3% this quarter, with property currently selling within two weeks of being put on the market. Across the county, the average time taken to sell fell by one week to an average of three weeks, the Q2 REA Average House Price Index shows.
“Prices are rising in Carlow town and throughout Carlow due to the serious supply issues buyers are facing,” said Harry Sothern of REA Sothern in Carlow town.
In Tullow, prices rose 4.2% this quarter to €250,000, with time taken to sell standing at four weeks.
“We are seeing that the demand for starter homes remains strong across the county this quarter,” said Matthew Conry, REA Dawson, Tullow.
The survey shows that across the county, 65% of buyers were first-time buyers, while 31% of sales in the county this quarter were attributed to landlords leaving the market.
Additionally, estate agents across the county reported that the BER ratings of properties saw A-rated properties command 19% price increases in comparison to comparable C-rated properties.
The REA Average House Price Index concentrates on the sale price of Ireland’s typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.
The actual selling price of a three-bed, semi-detached house across the country rose by 2.7% in the past three months to €347,912, and 10.3% overall annually.
While actual selling prices in Dublin city rose by 2.6% in the last three months, REA agents have noticed fewer first-time buyers at recent viewings.
The average three-bed semi in the capital is now selling at €572,693 – a 9% annual rise of almost €50,000.
The country’s biggest rises this quarter came in the commuter belt, as selling prices increased by 3.1% to €361,319. The commuter belt increases were particularly felt in Kildare, where Newbridge, Naas, Maynooth and Celbridge all experienced three-monthly price rises of 5%.
