Kildare property prices down by €5,000 - MyHome.ie

Report shows varying stats for Kildare residential market

Leinster Leader Reporter

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Waterford property sales to benefit from new conveyancing system in 2019

Despite the latest MyHome.ie survey showing that asking prices rose nationally, Kildare prices report a decrease (file photo)

According to MyHome.ie, Kildare property prices are down by €5,000, with the median asking price now at €250,000 in Co Kildare. 

The latest survey shows asking prices nationally rose by 1.9% in Q1.  However, property prices in Kildare have fallen in the quarter, according to the latest MyHome.ie Property Report in association with Davy.

The average asking price of a house in Co Kildare is €250,000, a decrease of €5,000 from Q4 2019 and an increase of €1,000 compared to Q1 2019.

Despite this overall trend, asking prices for a 3-bed semi-detached house in the county have remained level at €220,000 for the third straight quarter. Prices for this house type increased by €1,500, from €218,500, compared to this time last year.

Meanwhile, the asking price for a 4-bed semi-detached house in Kildare has also remained unchanged from the last quarter at €290,000. This represents a €15,000 increase compared to the same period last year.

The number of properties for sale in Kildare on MyHome.ie decreased by 2.8% in the last quarter and was down 0.6% on this time last year.

The average time for a property to go sale agreed in the county after being placed up for sale now stands at nearly four months.

National property landscape

The author of the report, Conall MacCoille, Chief Economist at Davy, said that indicators of activity suggested the housing market had recorded a decent start to the year. “After activity was depressed by Brexit in 2019, residential property transactions in January were up 6% year-on-year, while agreed sales and mortgage approvals in Q1 were both up 10% annually. Similarly, housing completions rose to 21,124 in 2019, up 18% on the previous year.

However, he noted that Covid-19 and the measures needed to fight it would likely kill off any green shoots we have seen so far this year.

“For now, the immediate outlook is an illiquid market with depressed pricing among the very few transactions that do take place. In this context, our forecast for 2% Residential Property Price Index (RPPI) inflation through 2020 now looks optimistic.”

Angela Keegan, MD of MyHome.ie, said that despite the huge uncertainty caused by Covid-19, there were positives to take. “MyHome.ie analysis of the Chinese property market – the first country to be affected by Covid-19 – shows that after an initial hard shock, it has bounced back relatively rapidly. Technological advances also mean that online viewings are now being utilised en masse and have become hugely important for agents, sellers and buyers – perhaps signalling a future trend.”

Full details of the report can be found at www.myhome.ie/reports