The price of the average second-hand three-bed semi in County Meath has remained stable in the last three months, but is showing an annual rise of 9%, the latest national survey by Real Estate Alliance has found.
Across the county, the average time taken to sell has increased from four weeks to six in the past quarter, the Q3 REA Average House Price Index shows.
Meath agents are reporting that 75% of purchasers this quarter were first time buyers, with 23% of buyers coming from outside of the county.
Additionally, the data shows that BER A-rated homes are commanding a 22% premium over their C-rated equivalents.
Average prices in Ashbourne remained stable at €385,000, with time to sell rising from three to four weeks.
“This has been an active quarter, with positive levels of enquiries continuing,” said Paul Grimes of REA Grimes, Ashbourne.
“We are seeing a cautious start to Q4 with increase in interest rates, cost of living and upward pressure on construction prices.
“New homes continue to appeal with Help to Buy assisting, and we are seeing landlords continue to review assets now out of negative equity, the sales of which accounted for 17% in our last financial year.”
The average house price in Kells was unchanged this quarter at €245,000, with time to sell steady at five weeks.
“We are seeing an ongoing issue in the lack of supply on the market,” said Cara Gavigan of REA T&J Gavigan, Kells.
The average three-bed semi in Navan is now selling at €275,000, with the average sale taking place in eight weeks, up two weeks from its June figure.
“We have witnessed a moderate slow-down in the market this quarter, with a reduced level of viewings and enquiries,” said Michael Gavigan of REA T&J Gavigan, Navan.
“However, sale prices remain strong, and prices are still being achieved at the asking price or above.
“We feel from chatting with potential purchasers that this is due to external factors such as uncertainty around interest rate hikes and cost of living.”
Trim three-bed semis have been selling for an average of €290,000 this quarter, but are taking two weeks longer to reach sale agreed at six weeks.
“The market has slowed this quarter, with less viewings on properties, but prices are still steady for good houses in sought after locations,” said Thomas Potterton of REA TE Potterton, Trim.
Nationally, the rate of house price inflation has halved in the past three months as rising costs cause home buyers to be more cautious, the index shows.
The actual selling price of a three-bedroomed semi-detached house across the country rose by 1.4% over the past three months to €290,630 – representing an annual increase of 10%.
This is a marked slowdown on the 2.9% quarterly increase recorded in the preceding three months, signalling a cooling of the frenetic demand in the marketplace.
And the index found that A rated homes are commanding a 12% premium over their C rated equivalents – a figure that rises to 16% in the capital as running costs become more important to home buyers.
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.
