Average house price here rises almost 5% in last three months

Average house price here rises almost 5% in last three months

The price of the average three-bed semi in Kilkenny has risen 4.76% to €165,000 in the last three months, according to a national survey carried out by Real Estate Alliance.

The REA Average House Price 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 property market in towns and cities countrywide to the end of Q3 this week.

“Demand is strong but there is very low supply in the city,” said Michael Boyd from REA Boyd’s in Kilkenny.

The average three bed semi nationally now costs €200,093, an increase of €4,732 (+2.42%) since the end of June. This is a rise of 6.37% against the same time last year.

Prices in Dublin city grew by +2.75% to €373,333 since June – almost twice the growth experienced in the same area in Q2 as buyers chase a scarce supply of suitable housing.

“We are seeing little or no increase in supply nationally, with an increase in funded buyers fueling the market in the short-term,” said REA Chairman Michael O’Connor.