Tipperary house prices continue to rise

Price of the average three-bed semi in county rose by 2.7% in three months

Sian Moloughney

Reporter:

Sian Moloughney

price of the average three-bed semi in County Tipperary rose by 2.7%

price of the average three-bed semi in County Tipperary rose by 2.7% in the last three months.

The price of the average three-bed semi in County Tipperary rose by 2.7% to €159,357 in the last three months, according to the latest national survey carried out by Real Estate Alliance.

Tipperary prices rose 12.4 % in the last 12 months, the REA Average House Price Survey found.

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.

“There is good demand for the average three-bedroomed home,” said Eoin Dillon of REA Dillon Nenagh, Chairperson of Real Estate Alliance. Prices in Nenagh rose by 3.3% in the quarter to €157,000.

“Though supply is poor, I find a lot of people who have been living and working in Ireland for the past few years and who had been renting up until now, have become very active in purchasing family homes,” said James Lee of REA John Lee in Newport, where prices rose by 2.6% to €155,000.

“Starter homes are in very short supply and that’s driving up the price of houses and rents. It is very is evident in towns,” said John Stokes of REA Stokes and Quirke in Clonmel, where prices rose by 1.8% to €170,000.

“There has been a marginal increase in prices each quarter. Supply is meeting demand,” said Seamus Browne of REA Seamus Browne in Roscrea, where the average home is selling at €155,000 up 3.3%.

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.