'Supply is still poor' - Kilkenny house prices up over 12% in the last year

According to a national survey carried out by Real Estate Alliance

Darren Hassett

Reporter:

Darren Hassett

Email:

darren.hassett@kilkennypeople.ie

Kilkenny Kilkenny Kilkenny

The county saw rises by 3% in the last quarter and the city increasing by 1.7% to an average price of €252,333.

The price of the average three-bed semi in Kilkenny rose by 2.3% to €211,167 between March and June, according to a national survey carried out by Real Estate Alliance.

Kilkenny prices rose by 12.6% in the last 12 months, the survey found with the county rising by 3% in the last quarter and the city increasing by 1.7% to an average price of €252,333.

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 second hand property market in towns and cities countrywide to the close of last week.

“Supply is still poor, the market was reasonable in March and April, but there was a slowdown in May and early June,” said Robbie Grace of REA Grace in Callan.

In Carlow, prices rose by 1.7% between March and June of this year to €166,500 while Waterford City prices rose by 2.6% to €200,000. 

The average semi-detached house nationally now costs €232,441, the Q2 REA Average House Price Survey has found – a rise of 1.5% on the Q1 2018 figure of €229,111.

Overall, the average house price across the country rose by 8% over the past 12 months – indicating that the market is continuing to steady after an 11.3% overall rise in 2017.

The rate of increase in second-hand three-bed semi-detached home prices in Dublin city and county was just 0.8% in the last three months, with prices falling slightly in one suburb.

After rising by 12.5% in 2017, the average price of a second-hand semi-detached house in the capital has increased by just €5,000 so far this year and now stands at €443,000.

The commuter counties continued their recent steady growth with a 1.7% increase in Q2, with the average house now selling for €246,278 – a rise of €4,000 on the first three months of the year.

The country’s major cities outside Dublin recorded a combined Q2 rise of 1.5%, with an average three-bed semi costing €247,500.

The highest increases were seen in the rest of the country’s towns, which experienced a 2% rise in Q2 to an average of €153,094 – up €3,000 in 12 weeks.