Average Kilkenny house prices rise 1.1% in past year, city unmoved this quarter

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Kilkenny People

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Kilkenny People

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sam.matthews@kilkennypeople.ie

House prices

Overall, the average house price across the country rose by 1.54% over the past year

The price of the average three-bed semi in County Kilkenny rose by 1.1% to €213,500 in the past year, according to a national survey carried out by Real Estate Alliance.

County Kilkenny prices were static over the past three months, the REA Average House Price Survey found. Kilkenny City prices were unmoved this quarter and the average three-bed semi is currently on the market at €252,000, with the time taken to sell increasing from ten weeks to 14.

The 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.

“The second-hand market is calm due to new homes in the town, with first-time buyers going for those,” said Robbie Grace of REA Grace in Callan.

The price of the average three-bed semi in Callan was static this quarter at €175,000, and the average time to reach sale agreed rose from six weeks to eight.

The average semi-detached house nationally now costs €236,028, the Q2 REA Average House Price Survey has found – a rise of 0.05% on the Q1 2019 figure of €235,898.

Overall, the average house price across the country rose by 1.54% over the past year – a decrease on the 2.96% recorded to March and an indication that the market is continuing to steady after an 8% overall annual rise to June 2018.

“Wherever we have new homes on the market, they are definitely having an effect on prices in the existing market as they operate in their own price structure, with buyers prepared to pay a premium for A-rated properties,” said REA spokesperson Barry McDonald.

Prices rallied slightly by 0.1% in the commuter counties in the last three months, with the average house now selling for €249,167 – an annual rise of 1.17%.

Prices in the country’s major cities outside Dublin were relatively static with agents in Galway and Limerick reporting no change due to an increase in supply and new homes developments. The highest annual increases (5.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €8,000 in the past year and 1.08% in the past three months to €161,138.