Tipp house prices up 1.6%

The price of the average three-bed semi in County Tipperary rose by 1.6% in the past three months, according to a national survey carried out by Real Estate Alliance.


Tipperary prices rose 6.7% to €170,000 in the past year, 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 is no increase in prices, though there is a severe shortage of stock and rents continue to rise,” said John Stokes of REA Stokes and Quirke in Clonmel.


“Cash purchasers are not as active, perhaps some feel the market is going to correct itself.”


The price of the average three-bed semi in Clonmel was static this quarter and is currently €170,000, with the time taken to reach sale agreed static at six weeks.
“We are seeing fewer bidders for properties, but all are selling. There has been a marginal increase in price,” said Eoin Dillon of REA Eoin Dillon in Nenagh.
“Supply has improved, this has dampened the rate of price increase, but demand is still outweighing supply.”


Average Nenagh three-bed properties rose 1.74% in price this quarter and are currently on the market at €175,000, with the time taken to sell increased from three weeks to six.


“The market is steady, we are seeing that buyers are mainly local, with some from the UK,” said Seamus Browne of REA Seamus Browne in Roscrea.


Average Roscrea three-bed properties rose in price by 1.59% this quarter and are currently on the market at €160,000, and the time taken to sell remains at eight weeks.


The price of the average three-bed semi in Newport rose by 2.94% to €175,000 this quarter, and the average time to reach sale agreed rose from four weeks to five.
The average semi-detached house nationally now costs €236,028, the Q2 REA Average House Price Survey has found – a rise of 0.05% on the Q1 2019 figure of €235,898.


Overall, the average house price across the country rose by 1.54% over the past year – a decrease on the 2.96% recorded to March and an indication that the market is continuing to steady after an 8% overall annual rise to June 2018.


Dublin City second hand property prices decreased by an average of €4,500 in the past three months, registering a second consecutive quarter fall (-1%) since the end of March, and -2.2% compared to June 2018.


The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €433,000.


“Wherever we have new homes on the market, they are definitely having an effect on prices in the existing market as they operate in their own price structure, with buyers prepared to pay a premium for A-rated properties,” said REA spokesperson Barry McDonald.


Prices rallied slightly by 0.1% in the commuter counties in the last three months, with the average house now selling for €249,167 – an annual rise of 1.17%.


The increased availability of new homes has had a suppressing effect on prices in some commuter areas such as Kildare, North Wicklow and Meath.


Prices in the country’s major cities outside Dublin were relatively static with agents in Galway and Limerick reporting no change due to an increase in supply and new homes developments.


The highest annual increases (5.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €8,000 in the past year and 1.08% in the past three months to €161,138.