The average house price in Kilkenny is now 97% above its lowest point
In Kilkenny, prices in the third quarter of 2021 were 11% higher than a year previously, compared to a rise of 9% seen a year ago. The average price of a home is now €261,000, 97% above its lowest point.
Housing prices nationally rose by 1% between June and September and are now 9.1% higher than a year ago, according to the latest Daft.ie Sales Report released today by Ireland’s largest property website, Daft.ie. The average price nationwide in the third quarter of 2021 was €287,704, 22% below the Celtic Tiger peak but three quarters above its lowest point in 2012.
The national trend hides regional differences. In Dublin, prices rose by 4.9% in the year to September, the slowest rate of inflation in a year. In the other major cities, prices rose by similar magnitudes – from 3.1% year-on-year in Galway to 8.4% in Limerick city. Outside the main cities, inflation remains significantly higher, with prices rising by an average of 12.9% year-on-year. The largest annual increases were in Mayo and Leitrim, where prices are more than 20% above their level a year ago.
Commenting on the report, its author Ronan Lyons, economist at Trinity College Dublin, said: “The latest signals from the sales market suggest that, thankfully, the worst of the Covid-19 squeeze has passed. Inflation has eased a bit and there has been a modest improvement in the number of homes available to buy at any one point. Nonetheless, while the Covid-induced spike in market conditions may be passing, the underlying issues remain. The stock for sale remains well below pre-Covid-19 levels, while many parts of the country are still seeing prices that are at least 10% higher than a year ago. Additional supply remains key to solving Ireland’s chronic housing shortage and, with the pandemic appearing to be under control, housing remains a critical issue – economically and politically – for policymakers to address. The Government's 'Housing for All' plan contains a welcome boost in social housing activity but construction costs, the key determinant of viability, do not appear to be on policymakers’ radars," he said.