The price of the average second-hand three-bed semi in County Carlow has risen by 3.3% to €188,500 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell has dropped from four weeks to three, the REA Average House Price Index shows.

Prices in Carlow town have risen 3.6% to €202,000, with time to sell dropping to three weeks this quarter.

“The market is currently very strong, and we are seeing multiple bidders on every property coming in,” said Harry Sothern, REA Sothern, Carlow town.

“It is important on our end that we ensure the buyers are fully committed to follow through. We have converted a number of our sales to auction when we have a significant amount of bidders, so the process is more transparent for those involved.”

Tullow prices this quarter have risen by 3% to €175,000 with time taken to sell steady at four weeks.

“We are seeing very little stock for sale at present, and this is creating good demand for any houses that come to the market,” said John Dawson of REA Dawson, Tullow.

“Good quality starter homes are selling quickly, and a small number of new developments are now under construction, which may lead to more supply later in 2021.”

Average house prices have risen by almost €1,000 per week nationwide since the end of March, the REA Average House Price Survey has found.

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.

Fuelled by pent-up demand and the return of physical viewing, the marketplace is also seeing the lowest supply and the shortest time taken to sell in recent history.

And as multiple buyers bid for scarce supplies, the average three bed semi is now reaching sale agreed after just four weeks on the market across the country – less than half the ten-week average this time last year.

The price of a three-bedroomed semi-detached house across the country rose by €10,000 over the past three months to €253,685 – representing an annual increase of 8%.

The biggest rises in Q2 came in commuter counties and the country’s large towns as buyers continue to move out further from the city in preparation for long-term hybrid working situations.

In Dublin city, house prices rose by €1,500 per week in Q2, increasing from €438,500 in March to a present rate of €456,667.

Cork, Limerick, Galway and Waterford cities shared a combined increase of 3.5% in the past 12 weeks with prices rising by €10,000 to an average of €275,000.

Three bed semis in commuter counties rose 4.33% by over €11,000 in the past three months to an average of €270,111 – with the average home selling in just three weeks, down from a high of 11 weeks a year ago.

As the flight to rural locations continues, prices in the rest of the country’s towns rose by over 4.6% in Q2 to €176,690.