The average price of a second-hand, three-bed semi in County Westmeath rose by 2% in the past year, according to the latest national survey by Real Estate Alliance.
During the first three months of 2023, the average cost of three-bed homes in the county remained at €260,000, the Q1 REA Average House Price Index shows.
By concentrating on the actual sale price of three-bed semis, the survey provides an up-to-date picture of the second-hand property market in towns and cities countrywide.
Across Westmeath, first-time buyers made up 80% of the market during Q1, with 40% of buyers coming from the cities.
The average time taken to complete a sale in Westmeath is five weeks, the same as the last quarter of 2022, the survey shows.
In Athlone, the average price for a three-bed semi remained static at €260,000, with time to sell this quarter also staying the same at five weeks.
Across the rest of Ireland, the actual selling price of a three-bedroomed semi-detached rose by 0.6% over the past three months to €293,343 – representing an annual increase of 5.3%.
House prices in Dublin recovered after a pre-Christmas fall and rose by 0.5% to €498,333 in the past three months, slightly exceeding last September’s prices and showing an annual rise of 3.5%.
Mirroring the capital, cities outside Dublin experienced a 0.4% rise to an average selling price of €310,250.
The smallest percentage increases came in commuter counties where average prices went from €312,778 to €313,056 – a rise of just 0.1% on average over three months.
The country’s large towns saw the largest quarterly increase at 1%, with prices now averaging €211,776 and properties selling faster at an average of five weeks, than in cities or commuter areas.
Nationally, first-time purchasers make up 60% of the market, the quarterly survey has found.
The actual selling price of a three-bedroomed semi-detached house across the country rose by 0.6% over the past three months to €293,343 – representing an annual increase of 5.3%.
