AVERAGE PRICES of a second-hand, three-bed semi in county Clare rose by 2% in the past year, according to the latest national survey by Real Estate Alliance.

Three-bed semi-detached home values in the county remained at €230,000 during the first three months of 2023, the Q1 REA Average House Price Index shows.

Across Co Clare, first-time buyers made up 55% of the market during Q1, with 5% coming from buyers moving out of cities. The average time taken to complete a sale in the county has not changed since the last quarter of 2022 and remains at 10 weeks, the survey shows.

Liam Browne of REA Paddy Browne in Ennis explained, “The market conditions remain positive, with shortage of stock in sales and rentals significant factors. Major incentives are required to retain and attract private investors into the rental market”.

Across the rest of Ireland, the actual selling price of a three-bedroomed semi-detached rose by 0.6% over the past three months to €293,343 – representing an annual increase of 5.3%.

House prices in Dublin recovered after a pre-Christmas fall and rose by 0.5% to €498,333 in the past three months, slightly exceeding last September’s prices and showing an annual rise of 3.5%.

Mirroring the capital, cities outside Dublin experienced a 0.4% rise to an average selling price of €310,250.

The smallest percentage increases came in commuter counties where average prices went from €312,778 to €313,056 – a rise of just 0.1% on average over three months. The country’s large towns saw the largest quarterly increase at 1%, with prices now averaging €211,776 and properties selling faster at an average of five weeks, than in cities or commuter areas.

Nationally, first-time purchasers make up 60% of the market, the quarterly survey has found. The actual selling price of a three-bedroomed semi-detached house across the country rose by 0.6% over the past three months to €293,343 – representing an annual increase of 5.3%.

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Subscribe for just €3 per month

If you’re here, you care about County Clare. So do we. Did you rely on us for Covid-19 updates, follow our election coverage, or visit The Clare Echo every week for breaking news and sport? The Clare Echo invests in local journalism and we want to safeguard its future in our county. By becoming a subscriber you are supporting what we do, will receive access to all our premium articles and a better experience, while helping us improve our offering to you. Subscribe to clareecho.ie and get the first six months for just €3 a month (less than 75c per week), and thereafter €8 per month. Cancel anytime, limited time offer. T&Cs Apply. www.clareecho.ie.

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