Kilkenny house prices increase 2% in three months - survey

The price of the average second-hand three-bed semi in County Kilkenny has increased to €304,570, up 2% from €298,500 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell is currently six weeks, the Q1 REA Average House Price Index shows.

“The summer months look positive in this location, as there is still new employment coming to Kilkenny City, and this has a knock on effect to the small towns,” said Robbie Grace of REA Grace, Callan.

“There is construction ongoing, but the market still requires more houses. The rental market remains very strong.”

The survey shows that across the county, 47% of purchasers were first-time buyers, while a total of 10% of sales in the county this quarter were attributed to landlords leaving the market.

Additionally, agents across the county reported that the BER ratings of properties saw A-rated properties command 15% price increases in comparison to comparable C-rated properties.

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.

The actual selling price of a three-bed, semi-detached house across the country rose by 2.5% in the past three months to €338,847, and 10% overall annually.

Three-bed semis in Dublin’s suburbs are reaching sale agreed in days as a wave of mortgage approved buyers turn their focus from apartments to family homes, the survey has found.

Actual selling prices in Dublin city rose by 3% in the last three months, and the average three-bed semi in the capital is now selling at €558,250 – a rise of almost €50,000 in the past year.

Prices in the major cities outside the capital rose by an average of 3% to €355,250 in the last three months – an annual rate of increase of 8%.

Homes in the country’s large towns continue to show the biggest annual growth nationwide, 2.9% this quarter and 13% on last March to an average of €256,576.

The absence of new home building, and historically low supply has seen three bed semi-detached homes in parts of Donegal, Kerry, Mayo, Offaly and Roscommon increase by over 23%in the past year.

Homes in commuter counties rose by 1.9% over the past three months to an average of €350,278, an annual rise of 9%.
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