House prices fall 2% but still cost €284k on average


The price of the average three-bed semi in County Wicklow fell by 2% over the past three months, according to a national survey carried out by Real Estate Alliance.

Wicklow prices fell overall by 2.3% to €284,200 over the past year, the REA Average House Price Survey found. The 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 to the close of last week.

“There is a noticeable decrease in viewings and prices achieved over the last quarter in Wicklow Town,” said Matt Forkin of REA Forkin, North Wicklow.

purchasers are holding off until Brexit is finalised

“We feel that this is due to a high volume of new homes in the market, mortgage lending, and purchasers holding off until Brexit is finalised.”

The price of the average three-bed semi-detached house in Wicklow town fell this quarter by 3.1% to €310,000, with time on the market increasing from 10 weeks to 11.

Prices for the average three-bed semi in North Wicklow and Bray fell by 2.8% this quarter to €306,000 and €340,000 respectively, with average time to reach sale agreed rising for both areas from 10 weeks to 11.

Average three-bed semis in Baltinglass were static in price this quarter and are currently on the market at €170,000, with the time taken to sell remaining at 12 weeks.

The price of the average three-bed semi in Blessington also remained unchanged this quarter at €295,000, with the average time to sale standing at six weeks.

The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.

The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.

Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.

Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.

After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.


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