House prices stable across County Kildare

Over 800 homes sold

Henry Bauress henry.bauress@leinsterleader.ie

Reporter:

Henry Bauress henry.bauress@leinsterleader.ie

House prices stable across County Kildare

File image

JUST over half of all houses sold in Kildare in the first six months of this year were priced at €250,000 or under, an analysis of prices on the Property Price Register indicates.
There were just over eight hundred sales and 54% of these came in under the above price, according to Leader analysis.
Separately, according to a national survey carried out by Real Estate Alliance, the price of an average three bedroom semi-detached house in county Kildare has remained flat this year at €242,500 between the first and second quarter.
Real Estate Alliance (REA) spokesperson Brian Farrell said “there is good demand in Newbridge, however there is still a shortage of stock in the area. Naas still shows signs of improvement, however there is still a shortage of second-hand properties in the area.”
The Leader looked at registered prices for the first six months of this year, compared to the same period in 2015, and found an average price rise of 2%.
The total sales for the two periods dropped from €247m last year to €213 this year.
The average price of the top third priced properties fell from €435,592 to €405,489 but there was a 11% rise in the mid price range from €215,696 to €240,016.
There were just under 160 properties priced at between €200,000 to €250,000 sold in the first half of this year.
In recent years there have been a lot of low priced properties but the average for the bottom third in the list was up 26% to €127,427.
REA, whose average House Price Index concentrates on the three-bed semi prices, said “a nationwide supply shortage has fuelled a rise of over 2% in the price of the average house in the last three months, with the majority of counties in the State recording price increases in Quarter Two this year.”
It said it is the lack of supply of suitable properties in a scarce market that has caused these rises, exacerbated by the effect of would-be commuters moving ever further from Dublin to acquire affordable homes.
REA said prices in Kildare (€242,500) have remained static in the four main towns, due to a low supply of suitable housing stock, combined with a relatively higher price to neighbouring counties.
But elsewhere, it said, there was a “bubble” in prices.
In Wicklow, prices in Blessington have risen from €240,000 to €265,000 in a three-month period, a rise of 10.42%, REA there is a bubble in the three-bed semi market.
REA said that to increase the supply it feels the State ultimately needs to implement a 50% VAT reduction on new homes, backed up by rebate schemes on local development charges on a nationwide basis. “Nama need to accelerate sales of land on the open market as well as selling through loan sales.
In conjunction, there is a need to fast track planning within the correct zoning for urban land bought within the next two years.”
The Leader analysis indicates there are plenty of properties in the different ranges in the first half of 2016.
While 17 went for between €500-€600,000 and just over 30 for between €400-€400,000, almost 270 residences sold for between €220-299,000.
There were just over 181 selling for between €219,000-€150,000.