Big price gap between new and existing Kildare homes

New residences 40% more expensive

Henry Bauress

Reporter:

Henry Bauress

Email:

henry.bauress@leinsterleader.ie

Big price gap between new and existing Kildare homes

HOUSE prices in county Kildare paid by first time buyers who are owner occupiers were 5.2% higher on average in the second quarter of 2017 than in the same three months of last year, according to analysis by the Leinster Leader.

The figures on residential property prices released today, August 9, by the Central Statistics Office show that new prices are almost forty per cent higher than for existing or second hand houses.

These new house prices vary from area to area.

The Leader averaged the prices for Q2 (April-June) of each year.

The first time buyer average price for Q2 2017 was, at €322,024, higher than its 2016 equivalent of €306,153.

The prices of existing houses sold to first time buyers in Q2 2017 - there were  77 of these sales - was €224,994, a 1% drop on the €227,275 equivalent for 2016.

When one considered all buyers, not just first timers, the average county price went up 5.3% to €330,746 for Q2 2017 compared to the same three months in 2016.

The June 2017 first time buyer average was €330,619 but the median price for that single month was €365,000, which means half of all new houses bought by first time buyers who were owner occupiers in June were sold for over €365,000.

For all buyers, the average price of 30 new homes sold in the county in June last was €358,177, 13% higher, than in June 2016.

Three times as many second hand residences were sold, on average, than new houses in the six months analysed and a new residence is approximately 40% more expensive than a second hand residence, judging by the executed sales.

Of the second hand properties sold, the average county price for 82 properties sold in June 2017 was €229,002, narrowly ahead of the average of €223,974 paid for 146 properties in June 2016.

The figures come from www.cso.ie/HPM02