The price of the average three-bed semi in County Kilkenny is expected to rise by 1% in the next 12 months, according to a survey carried out by Real Estate Alliance.
After a stable year to September, prices in the county fell by 2.8% to €207,500 in the final quarter of 2019, due to an increase in supply in Kilkenny City.
The REA Average House Price 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.
“The final quarter of the year was a bit busier than Q3, but we saw more stock available,” said Michael Boyd of REA Boyd’s in Kilkenny City, where time taken to sell fell from 14 weeks to 10 in Q4 2019.
“In 2020, I predict a steady market, with nothing too exciting, but a steady flow of business.”
According to Robbie Grace of REA Grace in Callan, where time taken to sell remained at eight weeks over the past three months, “the market is very slow at the moment, with a lack of new houses.
“I expect more transactions this year, but I do not see prices rising significantly.”
Average house prices nationally fell annually for the first time since the economic recovery, the Q4 REA Average House Price Index found.
The price of a three-bedroomed semi-detached house across the country fell by -0.6% over the past year after a 4.6% annual rise in 2018.
The average family home nationally now costs €234,704, the survey found – a drop of -0.1% on the Q3 figure of €235,009.
However, drops across the country are far lower than the preceding quarter (-0.4%), indicating that some confidence returned to the market in the final 13 weeks of the year, with the prospect of a resolution to Brexit uncertainty.
Three-bed semi-detached houses in Dublin city registered a fourth consecutive quarter fall (-0.6%) since the end of September and have decreased by -4.3% compared to December 2018.
The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €425,833 – down €20,000 from €445,167 a year ago.
The absence of small investors due to Brexit uncertainty and a lack of incentives has also removed stimulus from the resales market and added to supply in many cases as landlords leave the market nationwide.
Prices fell slightly by -0.05% in the commuter counties in the past three months, with the average house now selling for €246,500 – an annual fall of 1%.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford – remained largely unchanged
The highest annual price increases (2.8%) were once again seen in the rest of the country’s towns which rose in selling price by an average of almost €5,000 in the past year and 0.3% in the past three months to €162,207.
