The average price of a second-hand, three-bed semi in County Wicklow rose by 5% in the past year, according to the latest national survey by Real Estate Alliance.

During the first three months of 2023, three-bed homes in the county remained at €360,000, 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 County Wicklow, first-time buyers made up 63% of the market during Q1 with 37% of buyers coming from the cities.

The average time taken to complete a sale in the county is now six weeks, one week longer than the last quarter, the survey shows.

In the north east of the county, the average price for a three-bed semi remained at €385,000, with time to sell this quarter rising by one week to seven.

The average price of a three-bed semi in Wicklow town also remained unchanged, at €385,000, with the time to sell staying at five weeks over the quarter.

“The market in general is very stable at present,” said Matt Forkin of REA Forkin in Wicklow.

In Blessington, the average price for a three-bed semi remained static at €360,000, with time to sell this quarter rising by two weeks to six.

The cost of a three-bed semi in Baltinglass also remained unchanged, at €245,000, with the time to sell staying at six weeks over the quarter.

“There has been a significant reduction in quantity of viewers over the last quarter, while the impact of loan approvals being revised downwards is likely to kick in and bring a ‘stabilising quarter of prices’ at present to a reduction in Q2/Q3,” said Simon Murphy of REA Murphy Baltinglass and Blessington.

“The increase in the borrowing multiplier and the shortage of stock are contributing to holding prices.

“Prices in both the new and second hand markets are stable with no evident price change in the last 3-4 months, while stock levels in the second-hand market have fallen back since January.”

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%.