The price of the average three-bed semi in Co Kildare is expected to rise by a further 2 per cent in the next 12 months, according to a survey carried out by Real Estate Alliance (REA).
Prices in the county rose by 3.1 per cent to €282,000 in 2019 albeit prices remained unchanged throughout the fourth quarter, September and December.
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.
“The market is currently slow, but we have seen a slight pick-up in last 4-6 weeks,” said Brian Farrell of REA Brophy Farrell in Newbridge, Naas, Maynooth and Celbridge.
“We are hoping the ending of some of the Brexit uncertainty and an increase in mortgaged buyers will have a positive effect on the market this year.”
Time taken to sell in Q4 2019 rose from six weeks across Co Kildare to eight weeks in Naas, Maynooth, and Celbridge, and to nine weeks in Newbridge. Average house prices nationally fell annually for the first time since the economic recovery, the Q4 REA Average House Price Index found.
Slight drop nationwide
The price of a three-bedroomed semi-detached house across the country fell by -0.6% over the past year after a 4.6 per cent annual rise in 2018. The average family home nationally now costs €234,704, the survey found – that's a drop of -0.1% on the Q3 figure of €235,009.
However, drops across the country are far lower than the preceding quarter (-0.4 per cent) indicating that some confidence returned to the market in the final 13 weeks of the year, with the prospect of a resolution to Brexit uncertainty.
Three-bed semi-detached houses in Dublin city registered a fourth consecutive quarter fall (-0.6 per cent) since the end of September and have decreased by -4.3 per cent compared to December 2018.
The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €425,833 – down €20,000 from €445,167 a year ago.
The Brexit impact
The absence of small investors due to Brexit uncertainty and a lack of incentives has also removed stimulus from the resales market and added to supply in many cases as landlords leave the market nationwide.
Prices fell slightly by -0.05 per cent in the commuter counties in the past three months, with the average house now selling for €246,500 – an annual fall of 1 per cent
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford – remained largely unchanged. The highest annual price increases (2.8 per cent) were once again seen in the rest of the country’s towns which rose in selling price by an average of almost €5,000 in the past year and 0.3 per cent in the past three months to €162,207.