The price of the average three-bed semi in County Meath is expected to rise by 1% in the next 12 months, according to a survey carried out by Real Estate Alliance.

Prices in the county fell by 3.7% to €237,000 in 2019 – with a fall of 0.2% between September and December.

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.

“House prices have remained stable in Ashbourne and I anticipate that this trend will continue in 2020,” said Paul Grimes of REA Grimes in Ashbourne, where the average semi is now selling for €300,000.

“The market has slowed down for 3-bed semis in the last quarter with Brexit affecting the market. Meath County Council were active buyers in this space in the final months of the year,” said Cara Gavigan of REA T&J Gavigan in Kells, where prices fell by 5.26% to €180,000 in 2019.

“The number of properties available means that there is now enough supply to meet demand,” said Michael Gavigan of REA T&J Gavigan in Navan, where time taken to sell rose in Q4 2019 from eight weeks to 12, and average prices were unchanged at €230,000 in 2019.

“First-time buyers are still gearing towards new build which benefits them with the Help-To-Buy scheme.

“Investors, in our opinion, are not in the market at the moment, mainly due to the uncertainty of external factors including Brexit. At present, we don’t envisage a massive growth in values in 2020.”

Time taken to sell in Trim rose from 12 weeks to 14 in Q4 2019, where the average house price fell by 7% over the year from €257,000 to €238,000.

“The market is quieter this quarter, and demand isn't as strong. People are waiting to see how the market settles with Brexit,” said Thomas Potterton of local Trim agents REA TE Potterton.

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.