The average price of a three-bed semi in Kilkenny City
dropped 1.1% to €249,500 between June and September, according to a national survey carried out by
Real Estate Alliance.
Overall, the price
of the average three-bed semi in County Kilkenny rose by 0.5% to €215,500
between June and September.
County Kilkenny
prices rose by 7.5% in the last 12 months, the survey found.
“The bottom of the market is still very strong, but the
demand for houses priced at €400,000 upward has definitely slowed,” said Michael
Boyd of REA Boyd’s in Kilkenny City.
“There remains a lack of supply, but activity is very
strong, there is demand for all properties,” said Robbie Grace of REA Grace in
Callan, where the price of the average three-bed semi rose 2.9% to €175,000
this quarter.
The
REA Average House Price Survey concentrates on the actual sale price of
Ireland's typical stock home, the three-bed semi, giving an up-to-date picture
of the second-hand property market in towns and cities countrywide to the close
of last week.
The
average semi-detached house nationally now costs €234,824, the Q3 REA Average
House Price Survey has found – a rise of 1% on the Q2 2018 figure of €232,441.
Overall,
the average house price across the country rose by 5.8% over the past 12 months
– a decrease on the 8% recorded to June and indicating that the market is
continuing to steady after an 11.3% overall rise in 2017.
The price of a three-bed semi-detached house in Dublin has increased by
just 2.7% in the last 12 months as the Central Bank’s borrowing rules
increasingly define affordability in the housing market.
The rate of increase in second-hand three-bed semi-detached home prices in
Dublin city’s postcode zones was just 0.1% over the last three months, compared
to 4.1% for the same quarter last year.
After
rising by 12.5% in 2017, the average price of a second-hand semi-detached house
in the capital has increased by just €5,300 so far this year and now stands at
€443,333.
Growth
in the commuter counties also slowed to 0.9% in the last three months, with the
average house now selling for €248,528 – a rise of €2,000 on the second three
months of the year.
The
country’s major cities outside Dublin recorded a combined Q3 rise of 0.8%, with
an average three-bed semi costing €249,375.
The
highest increases were seen in the rest of the country’s towns, which
experienced a 2.1% rise in Q3 to an average of €156,383 – up €3,000 in 12 weeks.
“These
are areas where many buyers can still escape with a 10% deposit, it is still
largely not economic to build new homes, and the dwindling supply existing
stock at lower rates is disappearing,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Robbie Grace, REA Grace, Callan, 086 8297189
Michael Boyd, REA Boyd’s, Kilkenny, 087 2611699
Media information: Darren Hughes, 086 293 7037, darren@mediaconsult.ie
