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House Prices Continue To Rise

House prices across the country are continuing to rise. The average three bed semi-detached house na...
TodayFM
TodayFM

7:37 AM - 25 Sep 2017



House Prices Continue To Rise

News

House Prices Continue To Rise

TodayFM
TodayFM

7:37 AM - 25 Sep 2017



House prices across the country are continuing to rise.

The average three bed semi-detached house nationally is by 3.1% to €221,843 since June.

The REA Average House Price Survey found the overall average house price across the country has risen by 11.2% over the past 12 months - just under twice the 6% increase registered to the full year to September 2016.

The average three-bed semi-detached home in Dublin has jumped in value by €17,000 in the three months to the end of September.

This type of house now costs an average of €431,500.

Source: REA

The 4.1% rise over the last quarter means that prices in the capital have increased by 15.6% over the past year, with properties selling in an average of four weeks after hitting the market.

"Supply is the main driver of these continuing price rises with our agents reporting that the volume of listings is down around the country," said REA spokesperson Healy Hynes.

"Looking at the supply figures, it could be 2020 before we see any normalisation in the marketplace."

The commuter counties saw an increase of 2.7% this quarter, with the average house now selling for €229,300.

House prices in Longford have risen by 32% in the past year - but the county still has the cheapest semi-detached houses in the country at an average of €90,000, up from €68,000 in September 2016.



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