A total of 55% of semi-detached house sales in Clare in the last three months were to first time buyers, while 20% of purchasers came from outside of the county, a national survey by Real Estate Alliance has found.

The price of the average second-hand three-bed semi in the county has remained unchanged at €230,000 for the past 12 months, with properties taking an average of ten weeks to sell, the Q2 REA Average House Price Index shows.

Agents also report that 25% of sales this quarter are directly linked to landlords leaving the market. 

“Demand for three-bed semi-detached units in Ennis remains strong, with a slowness in properties coming on to the market,” said Liam Browne of REA Paddy Browne, Ennis.

“The percentage of investors leaving the market is increasing, and in the short term, this could increase supply.”

The REA Average House Price Index 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 actual selling price of a three-bedroom, semi-detached house across the country rose by 1.3% over the quarter to €297,056 – representing an annual increase of 6.6%.

The price of a three-bed semi in Dublin city has hit €500,000 for the first time, rising by by 0.3% in the past three months. They are now 14% ahead of their €431,000 Celtic Tiger peak level, with demand being largely driven by first-time buyers in an otherwise cautious market.

Time taken to reach sale agreed nationally has risen to six weeks as REA agents reporting that pricing levels are key in a sensitive market.

Cities outside Dublin experienced a 1.53% rise to an average selling price of €315,000 – an increase of 8.9% in the past 12 months.

Commuter areas rose by 0.4% to €315,389, with 41% of buyers coming from outside the county, a large proportion of them from the capital, with 72% of sales to first-time buyers.

The highest three-bed semi price rises came in the country’s main towns which rose by 2.24% in the past three months to an average of €216,517, with time taken to sell at five weeks.

Areas that attract holiday home buyers have noted an increase in UK or cross border interest with examples such as Bantry and Bundoran both recording €5,000 average increases in the past three months.