The price of the average three-bed semi in County Tipperary rose by 5% over the past year according to a national survey carried out by Real Estate Alliance.
County Tipperary prices rose by 0.7% to €171,250 over the past three months, the REA Average House Price Survey found.
The 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.
“There was a little nervousness in the market in relation to fears around Brexit this quarter, with a noticeably quiet off-peak season over the summer months,” said Eoin Dillon of REA Eoin Dillon in Nenagh.
“The price of a three-bed semi is still well below the build cost and there is no supply of new homes now or in the foreseeable future. It is also cheaper to pay a mortgage than to rent a house, so purchasers still consider it a good bet to buy.”
Average Nenagh three-bed properties rose by 1.1% in price this quarter and are currently on the market at €177,000. The time taken to sell fell this quarter from six weeks to five.
“The market is static. The uncertainty surrounding Brexit is not helping with the larger rural properties and with land transactions,” said John Stokes of REA Stokes and Quirke in Clonmel.
The price of the average three-bed semi in Clonmel was unchanged this quarter and is currently at €170,000, with the time taken to reach sale agreed rising from six weeks to seven.
“The market slowed quite quickly for the first two months of this quarter, however we have seen a pickup in the past two weeks,” said Seamus Browne of REA Seamus Browne in Roscrea.
Average Roscrea three-bed properties rose in price by 1.88% this quarter and are currently on the market at €163,000. The average time taken to sell increased from eight weeks to 12.
“Properties are taking longer to dispose of due to a degree of uncertainty with Brexit. People are tending towards putting off making a decision,” said James Lee of REA John Lee in Newport.
The price of the average three-bed semi in Newport remained static this quarter at €175,000 with the average time to reach sale agreed rising from five weeks to eight.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Eoin Dillon, REA Eoin Dillon Nenagh, 087 2052716
Seamus Browne, REA Seamus Browne Roscrea, 0872499570
John Stokes, REA Stokes & Quirke Clonmel, 086 8213777
James Lee, REA John Lee Newport, 086 2351221
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie
