The price of the average second-hand three-bed semi in Limerick city has increased to €330,000, up 1.5pc from €325,000 in the last three months, according to a national survey by Real Estate Alliance.

Average prices in the county rose to €270,000, up 1.9pc from €265,000 in that period, the Q2 REA Average House Price Index shows.

Across the county, the average time taken to sell is currently three weeks in Limerick city and four in the county.

“We are seeing similar trends to the previous quarter – the only difference is that there seems to be a slight rise in stock levels,” said Pat Dooley, REA Dooley.

The survey shows that 75pc of purchasers in the city and 80pc of those across the county were first-time buyers, with a total of 60pc of sales in the city and 45pc across the county this quarter were attributed to landlords leaving the market.

Additionally, agents across the county reported that the BER ratings of properties saw A-rated properties command 15pc price increases in comparison to comparable C-rated properties.

The REA Average House Price Index concentrates on the 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-bed, semi-detached house across the country rose by 2.7pc in the past three months to €347,912, and 10.3pc overall annually.

While actual selling prices in Dublin city rose by 2.6pc in the last three months, REA agents have noticed fewer first-time buyers at recent viewings.

The average three-bed semi in the capital is now selling at €572,693 – a 9pc annual rise of almost €50,000.

The country’s biggest rises this quarter came in the commuter belt, as selling prices increased by 3.1pc to €361,319.

The commuter belt increases were particularly felt in Kildare, where Newbridge, Naas, Maynooth and Celbridge all experienced three-monthly price rises of 5pc.

Homes in Cork city hit €400,000 for the first time as prices in the major cities outside the capital rose by an average of 1.5pc to €360,605 in the last three months – an annual rate of increase of 8pc.

The REA survey found that properties with a BER rating of A commanded an average 16pc premium over C-rated stock.