Average house price in Kilkenny continues steep rise in last three months

The price of the average three-bed semi in Kilkenny has risen 5.3% to €197,500 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 close of last week.

Callan has seen a 14.3% increase in property prices in the last year to €160,000, while Kilkenny City has increased 23.7% in the that time to €235,000.

“There is a shortage of supply and no building going on,” said Michael Boyd from REA Boyd’s.

Overall, the average house price across the country has risen by 11.2% over the past 12 months – just under twice the 6% increase registered to the full year to September 2016. Nationally, the average semi-detached house now costs €221,843, the Q3 REA Average House Price Survey has found. That's a rise of 3.1% on the Q2 figure of €215,269.

The commuter counties continued to rebound after a relatively static 2016 and saw an increase of 2.7% this quarter, with the average house now selling for €229,300. The country’s smaller rural towns situated outside of Dublin, the commuter belt and the major cities out-performed the national index with prices rising by an average of 2.8% over the quarter to €142,867.