Average house prices nationally have risen by €3,500 per month since the end of June
The price of the average second hand three-bed semi-detached house in County Tipperary has risen by 9.2% to €199,250 over the past three months, according to a national survey by Real Estate Alliance (REA).
Homes in the county are reaching sale agreed in three weeks during this period, the Q3 REA Average House Price Index shows.
Nenagh prices rose 23.7% to €235,000, with time taken to sell at just 1.5 weeks – officially the quickest in Ireland.
“We have just agreed the sale of a very well-presented three-bed semi in Nenagh – bids started at €190,000 and finished at €237,500 after 22 bids, 11 viewings and 12 days on the market,” said Eoin Dillon of REA Eoin Dillon Nenagh.
“We had sold a similar house in the same section of the estate at the height of the boom for €237,000, so we are now back to those levels.”
Average prices in Newport rose 3.7% to €197,000, with time on the market remaining at two weeks this quarter.
“The market is strong but there is very little supply with a huge amount of buyers,” said James Lee of REA John Lee, Newport.
“Unless properties come on the market, the prices are going to continue to soar, and builders are unable to start building new homes as the cost of building is too high.”
Clonmel average prices rose by 5.4% to €195,000, with time to sell remaining at four weeks.
“There is no new building and no rental properties and people want to buy as it is better value,” said John Stokes, REA Stokes and Quirke Clonmel.
Average prices in Roscrea rose 3% this quarter to €170,000, with time to sell remaining at four weeks.
“The biggest demand is for detached one-off houses, both urban or rural, with price increases since the start of the year in the region of 20% in that area,” said Seamus Browne of REA Seamus Browne, Roscrea.
Average house prices nationally have risen by €3,500 per month since the end of June, with selling prices in commuter areas and small towns increasing by over double the growth experienced in the major cities.
The 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.
The price of a three-bedroomed semi-detached house across the country rose by 4.1% over the past three months to €264,056 – representing an annual increase of 12%.
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