Average price of a three-bed semi detached in County Meath is expected to rise by 5% in the next 12 months, according to a survey by Real Estate Alliance.
The survey concentrates on the actual sale price of Ireland’s typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide.
Three-bed semi-detached homes in the county now cost an average of €282,500, up 16% from the December 2020 average of €242,500, the REA Average House Price Index shows.
The price of a three-bedroomed semi-detached house across the country rose by €5,900 over the past three months to €269,963, and increased by 13% over the past year.
Landlords exiting the market have accounted for almost one in four home sales over the past three months, the data shows.
Prices in Ashbourne currently average at €345,000, an increase of 1.5% in the past three months and representing a 13% increase over 12 months.
“The limited supply of housing sales stock over the past quarter has placed upward pressure on prices, with pent-up demand due to lack of new homes in surrounding areas,” said Paul Grimes of REA Grimes, Ashbourne.
Prices in Navan increased to €270,000 in December, rising 1.9% over the past three months and 12.5% annually.
“Stock is at an all-time low and there is good demand for second-hand homes as there are no new homes in the area,” said Michael Gavigan of REA T&J Gavigan, Navan.
Average house prices rose by 2.24% nationally in the last three months of 2021, half the rise experienced between June and September as demand eased and the market calmed.
Selling prices rose in commuter areas and the country’s large towns as buyers continue to move out further from the capital in anticipation of long-term remote and hybrid working situations.
Commuter areas, such as Meath and Kildare, increased three times the amount compared to Ireland’s major cities, with Dublin increasing by 1% and Cork, Limerick, and Galway by an average of 0.8% as agents reported a quieter quarter.
In Dublin city, house prices rose by over €4,000 over the last three, increasing from €467,000 in September to a present rate of €471,667.