PROPERTY prices in Clare have increased by €20,000 over the last twelve months.
€295,000 is the average asking price for a property in Co Clare which represents an increase of €20,000 within a year. Prices for three-bed and four-bed semi-detached homes fell for the second quarter of this year but remain higher than the same timeframe in 2024.
In the latest MyHome Property Price Report which analyses the second quarter of 2025, there were 288 properties for sale in Co Clare which is a difference of plus 18 percent when compared with the same time in 2024.
Asking prices for a three-bed semi-detached house in the county fell by €7,500 over the quarter to €275,000. This means that prices in the segment have risen by €26,000 compared to this time last year, the report which was completed in association with Bank of Ireland outlined.
Meanwhile, the asking price for a four-bed semi-detached house in Clare fell by €5,000 over the quarter to €295,000. This price is up by €20,500 compared to this time last year.
The average time for a property to go sale agreed in the county after being placed up for sale now stands at just over three months.
Author of the report, Conall MacCoille who is Chief Economist at Bank of Ireland noted the competition for housing remains “fierce”. He explained, “Uncertainty following President Trump’s announcement of ‘Liberation Day’ tariffs hasn’t been sufficient to dent Ireland’s housing market. The average mortgage approval in May was up 6.7% on the year, while the typical residential transaction is being settled 7.5% above the original asking price. Meanwhile, one in six properties is sold by 20% or more over asking price, indicating that competition for homes remains fierce”.
Conall added, “Another factor at play is loosening of the Central Bank mortgage lending rules. The average first-time-buyer borrowed 3.4 times’ their income in 2024, up from a 3.2x multiple in 2022. This change has pushed up house prices by €15,000 to €20,000. That said, the process of rising leverage may be coming to an end. The proportion of first-time buyers taking out a mortgage with a 3.5-4x loan-to-income (LTI) multiple is now steady, at just under 50%. If so, Irish house price inflation is more likely to return to mid-single digit territory”.
Some improvements in home completions is likely in 2025, he said but flagged that attention needs to focus on “difficult problems surrounding build costs and the viability of apartment development in Ireland over the medium-term”. He said that newly introduced rent controls would likely serve to eliminate the two-tier rental market, as RTB figures from end-2024 show new tenants were paying on average €240 per month in rent more than those in existing tenancies.
Joanne Geary, Managing Director of MyHome, said, “The volatile geo-political climate in which we are living is particularly unhelpful for the economy. It is promising that, to date, the threat of US-EU tariffs does not appear to have had a major negative effect on the market, but it remains to be seen what the coming months will bring. As ever, we need to focus on what we can actually control, which means continuing efforts to significantly increase our national stock of properties, and urban apartments in particular”.
