Search

19 Aug 2022

Kildare house prices rose by 3.2 per cent in three months, survey shows

Kildare house prices rose by 3.2 per cent in three months, survey shows

Commuter counties notably saw prices increase by 2.3 per cent: a jump of €6,833 to €311,833. Pic: Real Estate Alliance

The price of the average second-hand three-bed semi in County Kildare has risen by 3.2 per cent to €361,250 in the last three months.

That's according to a national survey by Real Estate Alliance (REA), which has shown that 70 per cent of sales in the county are to first-time buyers, with 10 per cent of all purchasers coming from outside the area.

Across the county, the average time taken to sell is two weeks, the Q2 REA Average House Price Index has shown.

Prices in Maynooth rose this quarter to €390,000, an increase of 2.6 per cent, and Celbridge prices rose by 2.7 per cent to €380,000.

Naas prices rose by 4.3 per cent this quarter to €365,000, and prices in Newbridge rose to €310,000, representing an increase of 3.3 per cent.

Commenting on the new findings, Brian Farrell of REA Brophy Farrell, said: "We have seen a slight increase in supply this quarter."

ACCURACY

The REA said that its Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

It said that a marked increase in private landlords selling their properties nationally has increased supply levels and tempered price rises in some areas.

Up to 30 per cent of houses for sale in some areas of Dublin are now due to landlords selling their additional properties, with knock-on effects for the rental market, the survey has found.

Actual selling prices in Dublin postcode districts have risen by 2.5 per cent in the past three months, to an average of €493,333 – but the annual rate of increase has dropped two percentage points to 8 per cent on the previous survey.

The price of a three-bedroomed semi-detached house across the country rose by 2.9 per cent over the past three months to €286,611 – representing an annual increase of 13 per cent.

FIRST-TIME BUYERS

58 per cent of all purchasers in the past quarter were first-time buyers according to REA, a figure which rose to 78 per cent in Dublin as people with mortgage approval scramble to get on the housing ladder.

The highest segment increase in Q2 was in cities outside the capital, which saw a 3.3 per cent rise to an average selling price of €298,750.

Commuter counties saw prices increase by 2.3 per cent: a jump of €6,833 to €311,833.

REA further said that in the rest of the country, where prices rose 3.2 per cent to €202,897, the survey found that one in every three buyers were from outside the county, with 50 per cent first-time purchasers, as new working conditions enable a rethink on home bases.

To continue reading this article for FREE,
please kindly register and/or log in.


Registration is absolutely 100% FREE and will help us personalise your experience on our sites. You can also sign up to our carefully curated newsletter(s) to keep up to date with your latest local news!

Register / Login

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.