The price of the average three-bed semi in County Wicklow is expected to rise by 2% in the next 12 months, according to a survey carried out by Real Estate Alliance.
Prices in the county fell by 2.3% to €284,200 in 2019 – with no change 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.
“The market is stable, rather than falling. A predicted softening response to strong price guides has occurred, which is helpful in discussions with potential vendors,” said Simon Murphy of REA Murphy in Belssington, where average prices are €295,000, and Baltinglass (€170,000).
“The market is slow in making decisions, and bank funding is not being released with any urgency - which is typical at end-of-year when lending targets have been reached.
“The approach by banks in early 2020 will identify the extent of the Brexit factor.”
Karl Tracey of REA Forkin, Bray, where prices fell by 4% in 2019 to €340,000, but were static in the final quarter, said, “we have seen a positive end to the year, with a slight upturn in confidence in the market."
"We are feeling positive about 2020 as Brexit moves on,” said Matt Forkin of REA Forkin in Wicklow Town, where the average price is now €310,000, down -3% in 2019, but stable in Q4.
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.