Saturday 21 October 2017

House shortage may push prices upwards

Residential farm, Adare, Co Limerick
Residential farm, Adare, Co Limerick

LIMERICK

Castleconnell, Adare, Cratloe, Clarina, Murroe, Rathkeale, Foynes, Newcastle West,

Shannon, Rathkeale

No Change

One Year Forecast: No change

Average Price: €150,000

Assessing Agent: Rooney Auctioneers/deCourcy Auctioneers.

The Market:

Prices are stable and in some localised cases rising due to bidding.

Local agent Lisa Kearney predicts prices will more or less stay the same in more rural areas.

However, she confirms there is now a shortage of good houses available, which is beginning to create a movement in bidding which may see prices pushing up during the year.

Demand is outstripping supply, which will probably drive pricing in the sought-after areas and house types that buyers want to see in turn-key condition.

Bungalows in desirable areas like Castleconnell and Adare will always demand premium prices, while areas like Murroe less so as they are smaller, without the same amenities.

Lending criteria remain strict and this will impact on movement during the year.

The Prices:

3-bed terrace:

Jan 2013: €95,000

Jan 2014: €95,000

Jan 2015: €95,000

3-bed semi in town:

Jan 2013: €130,000

Jan 2014: €130,000

Jan 2015: €130,000

3-bed semi out of town:

Jan 2013: €120,000

Jan 2014: €120,000

Jan 2015: €120,000

4-bed semi in town:

Jan 2013: €165,000

Jan 2014: €165,000

Jan 2015: €165,000

4-bed semi out of town:

Jan 2013: €155,000

Jan 2014: €155,000

Jan 2015: €155,000

4-bed detached:

Jan 2013: €205,000

Jan 2014: €205,000

Jan 2015: €205,000

5-bed detached:

Jan 2013: €238,000

Jan 2014: €238,000

Jan 2015: €238,000

3-bed bungalow in town:

Jan 2013: €165,000

Jan 2014: €165,000

Jan 2015: €165,000

3-bed bungalow outside town:

Jan 2013: €150,000

Jan 2014: €150,000

Jan 2015: €150,000

4-bed bungalow in town:

Jan 2013: €190,000

Jan 2014: €190,000

Jan 2015: €190,000

4-bed bungalow outside town:

Jan 2013: €170,000

Jan 2014: €170,000

Jan 2015: €170,000

Detached 2000+ sq ft:

Jan 2013: €220,000

Jan 2014: €220,000

Jan 2015: €220,000

Irish Independent

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