THERE HAS been a €20,000 increase in the price of an average second-hand three-bed semi-detached home in Clare in the last three months.
An eight percent rise in the average house prices across the county from €250,000 to €270,000 has been recorded, a new national survey from Real Estate Alliance has shown.
Average selling times fell by a fortnight this quarter to an average of six weeks. The REA Average House Price Index concentrates on the 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.
Ennis is reporting a €20,000 quarterly rise, an annual increase of seventeen percent with properties achieving up to twenty percent above guide price due to a lack of both stock and new developments.
It joins other large towns around the country such as Tralee, Tullamore and Athlone which have experienced average increases of €20,000 in the past three months.
Across Clare, sixty percent of purchasers were first-time buyers and five percent were from outside the county. Five percent of sales this quarter were attributed to landlords leaving the market.
Liam Browne of REA Paddy Browne remarked, “The recent SCSI proposal for the establishment of a dedicated adjudication body or ‘rental court’ to deal with serious disputes between tenants and landlords as well as a thorough revision of the Residential Tenancies Act would be of great benefit to the property market as a whole”.
Nationally, the actual selling price of a three-bed, semi-detached house across the country rose by 2.7 percent in the past three months to €323,741. Time taken to reach sale agreed nationally has dropped to four weeks as low supply continues to drive sales.
