A 2.2% rise in the price of an average second-hand three-bed semi detached home has been observed in Co Clare over the past three months.
This increase to €230,000 has been highlighted in a national survey by Real Estate Alliance which also revealed that 60% of sales in the county are to first-time buyers, with 8% of all purchasers coming from outside the area.
Across the county, the average time taken to sell is six weeks, the Q2 REA Average House Price Index has shown. The REA Average House Price Survey concentrates on the actual 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.
Liam Browne of REA Paddy Browne based in Ennis said, “We are seeing a shortage of properties, and alongside this lack of stock houses are taking longer to sell”. Another observation was the “high level of landlords leaving the marketplace,” he flagged.
Nationally, a marked increase in private landlords selling their properties has increased supply levels and tempered price rises in some areas.
Up to 30% of houses for sale in some areas of Dublin are now due to landlords selling their additional properties, with knock-on effects for the rental market. Actual selling prices in Dublin postcode districts have risen by 2.5% in the past three months, to an average of €493,333 – but the annual rate of increase has dropped two percentage points to 8% on the previous survey.
The price of a three-bedroomed semi-detached house across the country rose by 2.9% over the past three months to €286,611 – representing an annual increase of 13%.