Tipperary house prices have increased over the past three months according to survey

The price of the average second-hand three-bed semi in County Tipperary has increased to €277,500, up 4.2% from €266,250 in three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell has fallen by one week to a total of three, the Q2 REA Average House Price Index shows.

Average prices in Newport rose 5.3% this quarter to an average of €300,000, with time on the market currently a fortnight.

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“Supply continues to drive prices with houses selling quickly for above asking price in most instances,” said James Lee of REA John Lee, Newport.

Clonmel average prices rose 1.9% to €270,000, with time to sell at three weeks in the area.

“Severe shortage of supply of houses both for rent and sale is driving second-hand prices upwards,” said John Stokes, REA Stokes & Quirke Clonmel.

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“There are a few new developments in the pipeline, which will hopefully help with the current supply challenges.”

Nenagh prices rose 6.8% to €315,000, with time to sell this quarter at three weeks.

“There remains a severe shortage of supply in the county, with very few properties coming on the market for sale,” said Eoin Dillon of REA Eoin Dillon Nenagh.

“Practically all of the semi-detached housing that we have sold this quarter were landlords exiting the market and all bought by first-time buyers, who intend to occupy the houses.

“The number of landlords exiting the market has decreased, but they still account for nearly all sales of this housing.

“We are expecting a further surge in landlords exiting the market, as the recently announced and poorly planned Rent Pressure Zones (RPZ) drive even more landlords out of the market.”

Average prices in Roscrea this quarter rose 2.3% to an average of €225,000, with time to sell currently five weeks.

“We are seeing that demand continues to meet supply in the local area,” said Seamus Browne of REA Seamus Browne, Roscrea.

The REA Average House Price Index concentrates on the 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 actual selling price of a three-bed, semi-detached house across the country rose by 2.7% in the past three months to €347,912, and 10.3% overall annually.

While actual selling prices in Dublin city rose by 2.6% in the last three months, REA agents have noticed fewer first-time buyers at recent viewings.

The average three-bed semi in the capital is now selling at €572,693 – a 9% annual rise of almost €50,000.

The country’s biggest rises this quarter came in the commuter belt, as selling prices increased by 3.1% to €361,319.

The commuter belt increases were particularly felt in Kildare, where Newbridge, Naas, Maynooth and Celbridge all experienced three-monthly price rises of 5%.

Homes in Cork city hit €400,000 for the first time as prices in the major cities outside the capital rose by an average of 1.5% to €360,605 in the last three months – an annual rate of increase of 8%.

The REA survey found that properties with a BER rating of A commanded an average 16% premium over C-rated stock.