The time taken to sell the average house in Meath has fallen by four weeks in the past quarter, a national property survey has found.
The REA Average House Price Survey found that the average time taken to sell across the county fell over the past three months from 12 weeks to eight.
As people move away from urban hubs and incorporate new working from home lifestyles, the price of the average three-bed semi-detached house in the county have increased by 0.5% this quarter to €238,750.
“Since restrictions have lifted, we have seen an increase in active buyers in the market,” said Paul Grimes of REA Grimes Ashbourne.
“This, coupled with lack of supply of quality homes, is leading to a buoyant market at this price point. There is still a high demand for 3- and 4-bedroom semi-detached homes.”
“After a busy start post lock down, the market has quietened a little bit. There is currently a shortage of supply with a lot of uncertainty in the market,” said Cara Gavigan of REA T&J Gavigan Kells.
“Generally, the buyers are either funds purchasing on behalf of the housing bodies or people downsizing.”
“The lockdown has made people realise where they really want to live, and there are a small number of investors purchasing ‘doer-uppers’ in the town who are looking for more reasonably priced properties to purchase,” said Michael Gavigan of REA T&J Gavigan Navan.
“The residential market was busy here with us in June and July, but since August it has slowed down and there seems to be less viewers out, said Thomas Potterton of REA TE Potterton, Trim.
“Most of our sellers that are selling three beds are landlords getting out of the rental market or sellers upgrading, and most of our buyers here are first-time buyers.”
Prices in Navan rose this quarter by 2.2% to €235,000, and remained unchanged over the last 12 months at €300,000 in Ashbourne, €180,000 in Kells and €240,000 in Trim.
Time taken to sell fell by six weeks this quarter in Trim to eight week to sell. In Navan they fell by three weeks to eight and in Ashbourne they fell by four weeks to four. In Kells time taken to sell remained unchanged at 12 weeks this quarter.
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.
The average three bed semi nationally is now reaching sale agreed after seven weeks across the country – a significant fall from the ten-week average in June.
Despite fears of a downturn in the market during the Covid-19 crisis, the price of a three-bedroomed semi-detached house across the country rose by 0.6% over the past three months to €236,046, an annual increase of 0.4%.
Reflecting the beginnings of a flight to rural locations, prices in the rest of the country’s towns rose by almost 1% in 12 weeks to €163,345.
The price of a three-bedroomed semi-detached house in Dublin City rose by 0.5% to €429,333 during the past three months, an annual increase of 0.2%.
Commuter counties fared less well than Dublin, with three bed semis averaging €247,667, a 0.3% rise on the Q2 figure of €246,944.
