Kildare property prices falling but stabilising - reports

Kildare house prices are still falling, but the rate of decline has steadied.

Kildare house prices are still falling, but the rate of decline has steadied.

That’s according to two house price surveys released last week by rival property websites Myhome.ie and Daft.ie.

Both sites paint similar pictures of the property sales market in Kildare.

Myhome.ie’s calculations say that the average asking price of a property in Kildare is now E178,000, down 1.1 percent in the three months to last June and nearly half of what they were at the peak of the market.

According to Daft.ie, in Kildare, the average asking price fell 5.5% between March and June. The average price is now €176,000, a fall of 54% from the peak.

Looking firstly at the nationwide Myhome.ie survey, it showed that, across the country, prices declined by 3.2 percent in the second quarter of this year. The average asking price nationally is now E212,000, which is down 49 percent from the peak of the boom.

The median asking price for a three-bedroomed semi-detached home is unchanged in the last quarter, at E185,000.

The median price of such a home in Kildare fell slightly by 1.1% to €178,000. There was also a drop in the median price of 4-bed semis as they slipped by 3.3% to €222,500.

Angela Keegan, Managing Director of MyHome.ie, said the fact average time to sale agreed were shortening in most parts of the country was encouraging. This average is six months in Leinster.

The statistics from Daft.ie show that the average asking price of a property in Dublin has fallen by less than 1% in the first half of 2012 compared to 10% in the second half of 2011.

This stabilisation of property prices in the capital is in contrast to the rest of the country, which has seen prices fall by a further 7% since the start of the year, following an 8% drop in the last six months of 2011.

In Dublin’s commuter counties, asking prices fell by 5% between March and June, having been largely stable in the first three months of 2012. In Kildare, the average asking price fell 5.5% between March and June. The average price is now €176,000, a fall of 54% from the peak.

Further Daft.ie statistics, compiled in conjunction with the All Island Research Observatory at NUI Maynooth, (which are available in greater detail at www.daft.ie/research) show the greater discrepancies between the North and South of Kildare.

The average asking price in some areas in the north of the county, close to Dublin, is still just over E200,000, while in the very south of the county it has fallen to E123,000.

Commenting on the report, Ronan Lyons, Economist at Daft.ie, said: “Credit and confidence remain key to a longer-term stabilisation in the property market though, and outside the major cities, there are the additional issues of oversupply and weak medium-term demand.” He continued: “Our work with AIRO shows not only how volatile trends can be from neighbourhood to neighbourhood but also what structural changes are occurring in the property market, with smaller properties seeing the largest falls in prices.”