The price of the average second-hand three-bed semi in County Cavan has remained unchanged in the last three months at €168,000, according to the latest national survey by Real Estate Alliance.

Over the last three months, the average time taken to sell in the area increased by one week for a total of three weeks, the Q3 REA Average House Price Index shows.

Additionally, agents are reporting that 70% of purchasers this quarter were first-time buyers, with 30% of buyers coming from outside of the county.

This quarter, prices in Ballyconnell are reported as unchanged at €150,000, while prices in Cavan Town currently stand at at €185,000.

“We are seeing that prices are steady, but the market is still under-supplied,” said James Spring of REA Peter Donohoe.

“There is good demand and steady supply, but we could do with more stock. Bidding is currently competitive, with some buyers being pushed outside Cavan Town.”

Nationally, the rate of house price inflation has halved in the past three months as rising costs cause home buyers to be more cautious.

The actual selling price of a three-bedroomed semi-detached house across the country rose by 1.4% over the past three months to €290,630–representing an annual increase of 10%.

This is a marked slowdown on the 2.9% quarterly increase recorded in the preceding three months, signalling a cooling of the frenetic demand in the marketplace.

And the index found that A rated homes are commanding a 12% premium over their C rated equivalents – a figure that rises to 16% in the capital as running costs become more important to home buyers.

The REA Average House Price 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.

Time taken to reach sale agreed rose to five weeks from four as REA agents nationwide reported a less frenzied approach to viewing and buying.

While the actual average selling price of three bedroomed homes in Dublin city is about to breach the €500,000 mark, the 0.8% quarterly rise to €497,500 is half that experienced in the previous three months.

58% of all purchasers in the past quarter were first-time buyers according to REA, a figure which rose to 76% in Dublin as people with mortgage approval look to get on the housing ladder.