Saturday 10 December 2016

Nationwide average cost of the semi-D passes €200k

Published 26/09/2016 | 02:30

The average Irish semi now costs €200,093, an increase of €4,732 (2.42pc) since the end of June. This is a rise of 6.37pc versus this time last year. Photo by: Education Images/UIG via Getty Images
The average Irish semi now costs €200,093, an increase of €4,732 (2.42pc) since the end of June. This is a rise of 6.37pc versus this time last year. Photo by: Education Images/UIG via Getty Images

The price of the average three-bed semi-detached home has risen above €200,000 nationally for the first time since the country emerged from the property crash.

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The average Irish semi now costs €200,093, an increase of €4,732 (2.42pc) since the end of June. This is a rise of 6.37pc versus this time last year.

Click to view full size graphic
Click to view full size graphic

The largest percentage rise in the past three months has been experienced in Ireland's lowest-priced county, Longford, where a 9.7pc (€6,000) rise takes the average to €68,000.

This trend has also been replicated in other more affordable counties like Roscommon (up 6.1pc to €85,000) and Sligo (up 5.6pc to €95,000) - largely driven by a shortage of homes for sale.

The highest increases in prices in the year to September were recorded in Roscommon (31pc), then Monaghan (17.9pc) and Westmeath (15.4pc).

"We are seeing little or no increase in supply nationally, with an increase in funded buyers fuelling the market in the short-term," said Real Estate Alliance chairman Michael O'Connor.

The immediate aftermath of the Brexit vote has had an effect in the north-west where Donegal is the only county to register a three-month fall - 1.73pc.

This has been most keenly felt in traditional holiday home spots such as Bundoran where the average three-bed semi dropped by 3.41pc, from €88,000 to €85,000.

Irish Independent

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